Frontier Group (NASDAQ:ULCC) Price Target Lowered to $6.50 at TD Cowen

Frontier Group (NASDAQ:ULCC) had its price objective decreased by TD Cowen from $8.00 to $6.50 in a research report sent to investors on Friday morning, Marketbeat reports. TD Cowen currently has a hold rating on the stock.

ULCC has been the topic of a number of other research reports. Bank of America restated a neutral rating and issued a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Susquehanna increased their target price on shares of Frontier Group from $5.00 to $7.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Morgan Stanley reiterated an equal weight rating and set a $8.00 price target (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Evercore ISI upped their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the stock an in-line rating in a report on Thursday, April 4th. Finally, Barclays lifted their target price on shares of Frontier Group from $7.00 to $9.00 and gave the company an overweight rating in a report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $7.28.

Frontier Group Trading Down 3.0 %

Shares of ULCC traded down $0.18 during mid-day trading on Friday, reaching $5.76. The stock had a trading volume of 2,173,985 shares, compared to its average volume of 1,541,146. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48. The business’s fifty day moving average is $7.08 and its 200 day moving average is $5.72. Frontier Group has a 52-week low of $3.19 and a 52-week high of $10.57. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -48.00 and a beta of 2.63.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.53%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS. On average, sell-side analysts predict that Frontier Group will post 0.42 EPS for the current fiscal year.

Insider Activity

In related news, CEO Barry Biffle sold 151,620 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the completion of the sale, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at $5,967,413.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Frontier Group by 1,705.7% during the 3rd quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after purchasing an additional 6,260 shares in the last quarter. Olympiad Research LP raised its holdings in Frontier Group by 385.1% during the third quarter. Olympiad Research LP now owns 66,184 shares of the company’s stock worth $320,000 after purchasing an additional 52,540 shares during the last quarter. Duality Advisers LP acquired a new stake in Frontier Group in the third quarter valued at $120,000. Signaturefd LLC purchased a new position in shares of Frontier Group in the third quarter valued at $28,000. Finally, NBC Securities Inc. acquired a new position in shares of Frontier Group during the 3rd quarter worth $58,000.

Frontier Group Company Profile

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.