Frontier Group (NASDAQ:ULCC) Price Target Raised to $8.50

Frontier Group (NASDAQ:ULCC) had its target price upped by UBS Group from $6.00 to $8.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently commented on ULCC. TD Cowen increased their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Bank of America dropped their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. Barclays raised their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Susquehanna raised their target price on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Trading Down 1.9 %

NASDAQ ULCC opened at $8.16 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.41. The stock has a market cap of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32. The stock’s fifty day moving average price is $6.49 and its 200-day moving average price is $5.20.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that Frontier Group will post 0.05 EPS for the current fiscal year.

Insider Transactions at Frontier Group

In related news, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the sale, the senior vice president now owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 355,000 shares of company stock valued at $2,569,150 over the last quarter. 81.50% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in Frontier Group during the 3rd quarter valued at approximately $54,000. Ballentine Partners LLC bought a new stake in Frontier Group during the 3rd quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group during the 2nd quarter valued at approximately $58,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after buying an additional 8,507 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares in the last quarter.

About Frontier Group

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.