Frontier Group (NASDAQ:ULCC) Price Target Raised to $8.00

Frontier Group (NASDAQ:ULCC) had its price target increased by Susquehanna from $6.00 to $8.00 in a report published on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Bank of America decreased their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. UBS Group lifted their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley cut their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and upped their price target for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.96.

Frontier Group Stock Performance

Shares of ULCC stock opened at $8.16 on Tuesday. Frontier Group has a 12-month low of $2.79 and a 12-month high of $8.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -203.95 and a beta of 2.32. The business has a 50 day simple moving average of $6.49 and a 200 day simple moving average of $5.20.

Frontier Group (NASDAQ:ULCC) last issued its quarterly 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 the consensus estimate of $943.30 million. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share. On average, equities research analysts anticipate that Frontier Group will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares of the company’s stock, valued at $1,874,397. This trade represents a 8.41 % 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 Frontier Group stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, 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. Insiders sold a total of 355,000 shares of company stock worth $2,569,150 over the last ninety days. 81.50% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Group

Several institutional investors have recently made changes to their positions in ULCC. Arizona State Retirement System increased its stake in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after buying an additional 3,521 shares during the period. Rhumbline Advisers raised its holdings in shares of Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after acquiring an additional 3,543 shares in the last quarter. Blue Trust Inc. boosted its position in Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the last quarter. XTX Topco Ltd grew its stake in Frontier Group by 10.6% in the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after purchasing an additional 4,279 shares during 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.