Frontier Group (NASDAQ:ULCC) Price Target Cut to $6.50

Frontier Group (NASDAQ:ULCC) had its target price dropped by stock analysts at TD Cowen from $8.00 to $6.50 in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 12.85% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Barclays raised their target price on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. UBS Group started coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price objective for the company. Evercore ISI raised their price objective 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. Morgan Stanley restated an “equal weight” rating and set a $8.00 price objective (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Finally, Susquehanna raised their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Frontier Group currently has a consensus rating of “Hold” and an average price target of $7.28.

Frontier Group Stock Performance

ULCC stock opened at $5.76 on Friday. The stock has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $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 has a 1 year low of $3.19 and a 1 year high of $10.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data 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 company had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. Frontier Group had a positive return on equity of 3.53% and a negative net margin of 0.67%. Frontier Group’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. Analysts expect that Frontier Group will post 0.42 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. Signaturefd LLC purchased a new position in Frontier Group during the third quarter worth about $28,000. PNC Financial Services Group Inc. boosted its holdings in Frontier Group by 632.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after purchasing an additional 4,980 shares during the last quarter. CWM LLC boosted its holdings in Frontier Group by 1,705.7% during the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after purchasing an additional 6,260 shares during the last quarter. NBC Securities Inc. purchased a new position in Frontier Group during the third quarter worth about $58,000. Finally, Private Advisor Group LLC purchased a new position in Frontier Group during the fourth quarter worth about $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.