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Spirit (SAVE) to Aid Traffic With More Routes From Memphis

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To expand its network, Spirit Airlines (SAVE) announced that it will start operating daily flights to Las Vegas, Orlando and Los Angeles next year. While flights to Las Vegas and Orlando will begin operating from Apr 20, 2022, the daily flights to Los Angeles will take to the skies from Jun 8.

Memphis will be the second airport to be served by Spirit Airlines. SAVE has been serving Nashville since 2019. We believe, it’s a prudent decision to add routes from Memphis as it is a favorite tourist spot and the routes will invite significant traffic. This, in turn, should boost SAVE’s top line significantly.

The excitement around Spirit Airlines’ entry in Memphis was evident from the commentary of John Kirby, vice president of Network Planning. Kirby was quoted saying "We're excited about serving Memphis because we think travelers in Western Tennessee and nearby states could use more high value flight options to popular leisure destinations."

Zacks Rank & Key Picks

Spirit Airlines currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Here are some better-ranked stocks within the broader Transportation sector:

Expeditors International of Washington EXPD sports a Zacks Rank #1, presently. EXPD has a stellar surprise history, with its earnings having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average being 29.1%.

Shares of Expeditors have soared above 39% so far this year. Increased airfreight revenues aid EXPD amid coronavirus-ravaged times. The metric surged approximately 54% year over year in the first nine months of 2021. We are also encouraged by EXPD’s measures to reward its shareholders through dividends and buybacks.

Schneider National SNDR flaunts a Zacks Rank of 1, presently. SNDR’s earnings outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average being 21%.

Shares of Schneider National have rallied more than 26% so far this year. SNDR gets a boost from its strong Intermodal and Logistics units. The Intermodal segment is benefiting from yield management and expanded volumes. The Logistics unit is thriving on the back of favorable market conditions and other factors.

ArcBest Corporation ARCB is currently Zacks #1 Ranked. ARCB’s earnings trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average being 27.4%.

Shares of ArcBest have skyrocketed more than 100% so far this year. Improving freight conditions in the United States bode well for ARCB. Solid customer demand and higher market rates are supporting ARCB.


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Spirit Airlines, Inc. (SAVE) : Free Stock Analysis Report
 
Expeditors International of Washington, Inc. (EXPD) : Free Stock Analysis Report
 
ArcBest Corporation (ARCB) : Free Stock Analysis Report
 
Schneider National, Inc. (SNDR) : Free Stock Analysis Report
 
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