Frontier Group (NASDAQ:ULCC) Receives “Neutral” Rating from Citigroup

Citigroup reiterated their neutral rating on shares of Frontier Group (NASDAQ:ULCC) in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have a $7.25 price objective on the stock.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. UBS Group lifted their target price on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays boosted their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Susquehanna increased their target price on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.58.

Frontier Group Stock Down 7.4 %

Shares of ULCC opened at $5.52 on Thursday. The company has a market capitalization of $1.25 billion, a P/E ratio of 15.33 and a beta of 2.37. Frontier Group has a one year low of $2.79 and a one year high of $10.26. The business’s 50 day simple moving average is $7.78 and its 200-day simple moving average is $6.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, sell-side analysts predict that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares in the company, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Frontier Group during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Frontier Group during the fourth quarter valued at about $50,000. Nisa Investment Advisors LLC boosted its stake in shares of Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Frontier Group during the 3rd quarter worth approximately $54,000. Finally, ProShare Advisors LLC acquired a new stake in Frontier Group during the 4th quarter worth approximately $84,000.

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.