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

Frontier Group (NASDAQ:ULCC) had its price target reduced by equities researchers at TD Cowen from $8.00 to $6.50 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 12.85% from the stock’s previous close.

ULCC has been the topic of several other reports. Bank of America reiterated a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Morgan Stanley restated an “equal weight” rating and issued a $8.00 target price (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Susquehanna boosted their price target on Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. UBS Group began coverage on Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.28.

Frontier Group Trading Down 3.0 %

Shares of ULCC opened at $5.76 on Friday. Frontier Group has a fifty-two week low of $3.19 and a fifty-two week high of $10.57. The company’s fifty day moving average is $7.08 and its two-hundred day moving average is $5.72. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. Frontier Group had a positive return on equity of 3.53% and a negative net margin of 0.67%. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $859.21 million. During the same period last year, the company posted ($0.06) earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Frontier Group will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 14,500 shares of Frontier Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $7.21, for a total transaction of $104,545.00. Following the sale, the chief executive officer now directly owns 63,949 shares of the company’s stock, valued at $461,072.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 81.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. U S Global Investors Inc. grew its stake in Frontier Group by 46.0% during the fourth quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock worth $57,241,000 after buying an additional 3,305,465 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Frontier Group by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after purchasing an additional 636,921 shares during the last quarter. Jump Financial LLC bought a new position in Frontier Group during the 3rd quarter worth approximately $1,867,000. Boston Partners grew its stake in Frontier Group by 65.5% in the third quarter. Boston Partners now owns 184,559 shares of the company’s stock valued at $893,000 after acquiring an additional 73,024 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Frontier Group by 29.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company’s stock valued at $2,106,000 after purchasing an additional 98,852 shares during the period.

About Frontier Group

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.