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

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

ULCC has been the subject of a number of other research reports. Bank of America reaffirmed a neutral rating and set a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Susquehanna boosted their price objective on Frontier Group from $5.00 to $7.00 and gave the company a neutral rating in a research report on Friday, February 9th. Barclays lifted their price target on shares of Frontier Group from $7.00 to $9.00 and gave the stock an overweight rating in a research note on Friday, April 5th. UBS Group began coverage on shares of Frontier Group in a research note on Wednesday, March 20th. They issued a neutral rating and a $8.00 price objective for the company. Finally, Morgan Stanley reissued an equal weight rating and issued a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $7.28.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $5.78 on Friday. 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 company’s 50 day moving average is $7.08 and its 200-day moving average is $5.73. Frontier Group has a 12 month low of $3.19 and a 12 month high of $10.57.

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

Insider Buying and Selling

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

Institutional Trading of Frontier Group

A number of institutional investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC bought a new position in Frontier Group during the first quarter worth about $350,000. Norden Group LLC acquired a new stake in shares of Frontier Group in the 1st quarter valued at about $293,000. Simplicity Wealth LLC acquired a new stake in shares of Frontier Group in the 1st quarter valued at about $204,000. Cruiser Capital Advisors LLC bought a new stake in shares of Frontier Group in the fourth quarter valued at about $253,000. Finally, Jade Capital Advisors LLC boosted its position in shares of Frontier Group by 2,400.0% during the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock worth $2,730,000 after buying an additional 480,000 shares during the period.

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.