Barclays Lowers Frontier Group (NASDAQ:ULCC) Price Target to $10.00

Frontier Group (NASDAQ:ULCC) had its price objective cut by Barclays from $14.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently weighed in on ULCC. UBS Group dropped their target price on Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday. Susquehanna decreased their price objective on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Bank of America cut their price target on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley boosted their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.47.

Frontier Group Trading Down 12.5 %

Shares of ULCC opened at $3.57 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The company has a market cap of $811.28 million, a price-to-earnings ratio of 9.92 and a beta of 2.52. The stock has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $6.59. Frontier Group has a 52-week low of $2.79 and a 52-week high of $10.26.

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

Insider Activity at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barry Biffle sold 273,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the transaction, the chief executive officer now owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. This represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 535,982 shares of company stock valued at $4,515,647. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after buying an additional 269,221 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after acquiring an additional 8,507 shares during the last quarter. IHT Wealth Management LLC bought a new position in shares of Frontier Group in the 3rd quarter valued at about $71,000. Point72 Asset Management L.P. acquired a new position in shares of Frontier Group during the 3rd quarter worth about $188,000. Finally, Barclays PLC raised its holdings in shares of Frontier Group by 378.6% in the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the period.

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.