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

Frontier Group (NASDAQ:ULCC) had its price target trimmed by TD Cowen from $8.00 to $6.50 in a research note published on Friday, Marketbeat reports. The brokerage currently has a hold rating on the stock.

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

Frontier Group Stock Up 0.3 %

Shares of ULCC stock opened at $5.78 on Friday. Frontier Group has a 1-year low of $3.19 and a 1-year high of $10.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The business has a 50-day moving average of $7.08 and a 200 day moving average of $5.73.

Frontier Group (NASDAQ:ULCC) last released 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. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.53%. The business had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $859.21 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Frontier Group will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the transaction, the chief executive officer now owns 772,981 shares in the company, valued at approximately $5,967,413.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC bought a new stake in shares of Frontier Group during the 3rd quarter valued at $28,000. PNC Financial Services Group Inc. raised its stake in shares of Frontier Group by 632.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after buying an additional 4,980 shares during the period. CWM LLC lifted 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 valued at $32,000 after buying an additional 6,260 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Frontier Group during the 3rd quarter valued at approximately $58,000. Finally, Private Advisor Group LLC bought a new stake in Frontier Group during the 4th quarter worth approximately $59,000.

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.