Brokerages Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) Price Target at $6.32

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.46.

A number of analysts recently commented on ULCC shares. Bank of America lowered their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Morgan Stanley reduced their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. Evercore ISI lifted their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen raised their price target on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, Susquehanna raised their target price on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, November 4th.

Insiders Place Their Bets

In related news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in shares of Frontier Group in the 2nd quarter valued at $45,000. nVerses Capital LLC boosted its stake in shares of 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 in the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group in the 3rd quarter worth about $54,000. Ballentine Partners LLC purchased a new position in Frontier Group during the third quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Frontier Group in the second quarter valued at approximately $58,000.

Frontier Group Stock Down 2.6 %

ULCC stock opened at $6.31 on Wednesday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -157.71 and a beta of 2.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33. The business has a fifty day moving average price of $6.18 and a 200-day moving average price of $4.96.

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

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.