Barclays Issues Positive Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its target price raised by Barclays from $7.00 to $10.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Bank of America dropped their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Finally, TD Cowen upped their target price on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Frontier Group presently has an average rating of “Hold” and an average target price of $6.52.

Frontier Group Price Performance

Shares of Frontier Group stock opened at $6.80 on Thursday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -169.96 and a beta of 2.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a 50 day moving average price of $5.67 and a 200-day moving average price of $4.96. Frontier Group has a one year low of $2.79 and a one year high of $8.33.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. Equities analysts expect that Frontier Group will post 0.04 EPS for the current year.

Insider Transactions at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Barclays PLC increased its position in Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after buying an additional 57,642 shares in the last quarter. MCIA Inc increased its position in Frontier Group by 11.2% during the 3rd quarter. MCIA Inc now owns 163,992 shares of the company’s stock valued at $877,000 after buying an additional 16,577 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Frontier Group during the 3rd quarter valued at about $188,000. Finally, IHT Wealth Management LLC acquired a new position in Frontier Group during the 3rd quarter valued at about $71,000.

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.