Frontier Group (NASDAQ:ULCC) Given New $4.00 Price Target at TD Cowen

Frontier Group (NASDAQ:ULCC) had its price objective raised by equities research analysts at TD Cowen from $3.00 to $4.00 in a report issued on Monday, Briefing.com reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential downside of 7.19% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Barclays dropped their price target on Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Raymond James downgraded shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Finally, Susquehanna cut their target price on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Frontier Group currently has a consensus rating of “Hold” and a consensus target price of $5.99.

Frontier Group Trading Down 2.3 %

Frontier Group stock opened at $4.31 on Monday. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The stock has a market cap of $965.26 million, a P/E ratio of -35.92 and a beta of 2.49. The company’s fifty day simple moving average is $3.69 and its 200-day simple moving average is $5.37.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. As a group, sell-side analysts forecast that Frontier Group will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new stake in shares of Frontier Group in the 2nd quarter valued at approximately $45,000. nVerses Capital LLC grew its position in Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Frontier Group during the second quarter worth $58,000. Private Advisor Group LLC bought a new position in shares of Frontier Group during the fourth quarter valued at $59,000. Finally, Arizona State Retirement System boosted its stake in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares in the last quarter.

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.