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Spirit Airlines (SAVE) Catches Eye: Stock Jumps 7.5%

Elikplim baby

Jan. 17, 2020

Spirit Airlines, Inc. SAVE was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $39.50 to $41.37 in the past one-month time frame.
The upmove came after the company provided improved revenue outlook for fourth-quarter 2019.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Spirit Airlines. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Spirit Airlines currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Spirit Airlines, Inc. Price
Investors interested in the Transportation - Airline industry may consider Delta Air Lines, Inc. DAL , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .
Is SAVE going up? Or down? Predict to see what others think: Up or Down
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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