NEW YORK (TheStreet) -- Spirit Airlines (SAVE) stock is surging by 5.01% to $52.56 on Tuesday morning, after the carrier raised its operating-margin outlook for the first quarter and posted better-than-expected first quarter revenue. 

Yesterday, the company updated its operating margin forecast for the quarter to about 21.5%, up from its past outlook range of 19% to 20.5%.

While total revenue per available seat mile dropped around 14% for the first quarter, this was still better than what the company had previously anticipated, according to the Wall Street Journal.

The better-than-expected revenue was largely due to the company's revenue-management strategies. 

Based in Miramar, FL, Spirit Airlines provides low-fare airline services.

Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B-.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.

You can view the full analysis from the report here: SAVE