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

Frontier Group (NASDAQ:ULCC) had its price target raised by research analysts at TD Cowen from $3.00 to $4.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential downside of 10.91% from the company’s current price.

Several other equities analysts have also recently commented on ULCC. Raymond James cut shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Susquehanna lowered their price target on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Barclays lowered their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Bank of America lowered their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.92.

Frontier Group Stock Performance

ULCC opened at $4.49 on Monday. The stock has a 50-day moving average of $3.70 and a 200-day moving average of $5.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33. The company has a market cap of $1.01 billion, a PE ratio of -37.42 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 1.77% and a negative return on equity of 4.09%. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. As a group, equities research analysts forecast that Frontier Group will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in Frontier Group during the 2nd quarter worth about $45,000. nVerses Capital LLC grew its holdings in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after acquiring an additional 6,100 shares during the last quarter. Private Advisor Group LLC bought a new stake in Frontier Group during the 4th quarter worth about $59,000. Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group during the 2nd quarter worth about $58,000. Finally, Arizona State Retirement System grew its holdings in Frontier Group by 29.0% during the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after acquiring an additional 3,521 shares during the last quarter.

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.