Frontier Group (NASDAQ:ULCC – Get Free Report) was downgraded by equities researchers at TD Cowen from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, FinViz reports. They currently have a $8.00 target price on the stock, down from their prior target price of $12.00. TD Cowen’s target price would indicate a potential upside of 42.98% from the company’s current price.
ULCC has been the topic of several other reports. JPMorgan Chase & Co. reduced their target price on Frontier Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, August 2nd. Susquehanna decreased their target price on Frontier Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, August 8th. Barclays lowered their target price on Frontier Group from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. Bank of America decreased their price objective on shares of Frontier Group from $13.00 to $12.00 in a report on Monday, June 26th. Finally, Evercore ISI dropped their target price on shares of Frontier Group from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Monday, August 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.36.
Frontier Group Trading Down 9.2 %
ULCC stock opened at $5.60 on Thursday. Frontier Group has a 1-year low of $5.51 and a 1-year high of $14.34. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $7.98 and its 200-day moving average is $8.85. The firm has a market cap of $1.23 billion, a P/E ratio of 9.99, a P/E/G ratio of 0.15 and a beta of 2.09.
Frontier Group (NASDAQ:ULCC – Get Free Report) last posted its earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $967.00 million for the quarter, compared to analyst estimates of $966.73 million. Frontier Group had a net margin of 3.56% and a return on equity of 25.80%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Equities analysts anticipate that Frontier Group will post 0.6 earnings per share for the current fiscal year.
Insider Transactions at Frontier Group
In related news, CEO Barry Biffle sold 223,647 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $7.94, for a total value of $1,775,757.18. Following the transaction, the chief executive officer now directly owns 800,537 shares in the company, valued at $6,356,263.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Barry Biffle sold 223,647 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $7.94, for a total value of $1,775,757.18. Following the completion of the sale, the chief executive officer now owns 800,537 shares in the company, valued at $6,356,263.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James G. Dempsey sold 183,464 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $8.26, for a total value of $1,515,412.64. Following the completion of the transaction, the chief financial officer now directly owns 87,507 shares in the company, valued at approximately $722,807.82. The disclosure for this sale can be found here. Insiders sold a total of 701,529 shares of company stock worth $5,641,196 in the last quarter. 83.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in Frontier Group by 10.2% in the second quarter. Nuveen Asset Management LLC now owns 106,438 shares of the company’s stock worth $1,029,000 after purchasing an additional 9,884 shares during the period. Alliancebernstein L.P. increased its position in shares of Frontier Group by 16.4% in the 2nd quarter. Alliancebernstein L.P. now owns 59,960 shares of the company’s stock valued at $580,000 after buying an additional 8,460 shares in the last quarter. Wells Fargo & Company MN raised its stake in Frontier Group by 106.3% during the 2nd quarter. Wells Fargo & Company MN now owns 15,898 shares of the company’s stock worth $154,000 after buying an additional 8,190 shares during the period. SkyView Investment Advisors LLC lifted its holdings in Frontier Group by 100.5% during the second quarter. SkyView Investment Advisors LLC now owns 209,168 shares of the company’s stock worth $2,071,000 after acquiring an additional 104,859 shares in the last quarter. Finally, Wealthsource Partners LLC grew its stake in Frontier Group by 121.1% in the second quarter. Wealthsource Partners LLC now owns 84,955 shares of the company’s stock valued at $822,000 after acquiring an additional 46,528 shares during the period.
Frontier Group Company Profile
Frontier Group Holdings, Inc, a low-fare airline company, provides air transportation for passengers in United States and international destinations in the Americas. It offers its services through direct distribution channels, including its website, mobile app, and call center. Frontier Group Holdings, Inc was incorporated in 2013 and is headquartered in Denver, Colorado.