Frontier Group (NASDAQ:ULCC) Price Target Cut to $23.00 by Analysts at Morgan Stanley

Frontier Group (NASDAQ:ULCC) had its target price trimmed by Morgan Stanley from $25.00 to $23.00 in a research report report published on Tuesday morning, Analyst Price Targets reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Susquehanna Bancshares assumed coverage on shares of Frontier Group in a research report on Tuesday, July 13th. They issued a positive rating and a $15.61 price target on the stock. Zacks Investment Research downgraded shares of Frontier Group from a hold rating to a sell rating in a report on Wednesday, August 4th. Finally, Susquehanna started coverage on shares of Frontier Group in a report on Tuesday, July 13th. They issued a positive rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $22.69.

Shares of ULCC stock opened at $14.42 on Tuesday. Frontier Group has a 12-month low of $13.71 and a 12-month high of $22.70. The stock’s fifty day moving average is $15.39. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.58.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Wednesday, August 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. The company had revenue of $550.00 million for the quarter, compared to analyst estimates of $539.17 million. The business’s revenue was up 183.5% on a year-over-year basis. On average, research analysts anticipate that Frontier Group will post -1.04 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. acquired a new stake in shares of Frontier Group in the second quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Frontier Group in the second quarter valued at $47,000. Royal Bank of Canada acquired a new stake in shares of Frontier Group in the second quarter valued at $81,000. Wolverine Trading LLC acquired a new stake in shares of Frontier Group in the second quarter valued at $178,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in Frontier Group during the 2nd quarter worth $193,000. 17.43% of the stock is owned by institutional investors and hedge funds.

About Frontier Group

Frontier Group Holdings, Inc engages in the operation of passenger airline. It offers flights throughout the United States and selected international Mexico, and the Caribbean. The company was founded on September 2013 and is headquartered in Denver, CO.

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Analyst Recommendations for Frontier Group (NASDAQ:ULCC)

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