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

Frontier Group (NASDAQ:ULCC) had its price target cut by equities research analysts at TD Cowen from $8.00 to $6.50 in a note issued to investors on Friday, Briefing.com reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 9.43% from the stock’s previous close.

ULCC has been the subject of a number of other research reports. Bank of America reiterated a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Evercore ISI raised their price target on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a report on Thursday, April 4th. Barclays raised their price target on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, April 5th. UBS Group began coverage on shares of Frontier Group in a report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 price target for the company. Finally, 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 report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.28.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $5.94 on Friday. Frontier Group has a 1 year low of $3.19 and a 1 year high of $10.57. The firm has a 50 day moving average of $7.14 and a 200-day moving average of $5.71. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $1.33 billion, a P/E ratio of -99.00 and a beta of 2.63.

Insiders Place Their Bets

In other news, CEO Barry Biffle sold 151,620 shares of the business’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 directly 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 can be accessed through the SEC website. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. U S Global Investors Inc. grew its stake in Frontier Group by 46.0% in the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after buying an additional 3,305,465 shares during the last quarter. Ancient Art L.P. grew its position in shares of Frontier Group by 52.3% during the 3rd quarter. Ancient Art L.P. now owns 7,961,321 shares of the company’s stock worth $38,533,000 after purchasing an additional 2,734,104 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Frontier Group by 20.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after purchasing an additional 636,921 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Frontier Group by 215.0% during the 4th quarter. Russell Investments Group Ltd. now owns 994,874 shares of the company’s stock worth $5,432,000 after purchasing an additional 679,075 shares in the last quarter. Finally, First Dallas Securities Inc. grew its position in shares of Frontier Group by 985.8% during the 3rd quarter. First Dallas Securities Inc. now owns 952,746 shares of the company’s stock worth $4,611,000 after purchasing an additional 864,996 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.