Evercore ISI Lowers Frontier Group (NASDAQ:ULCC) Price Target to $5.00

Frontier Group (NASDAQ:ULCC) had its price target trimmed by Evercore ISI from $7.00 to $5.00 in a report published on Friday,Benzinga reports. The firm currently has an in-line rating on the stock.

ULCC has been the topic of several other reports. Barclays lowered their price target on Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup restated a “neutral” rating and set a $7.25 price objective on shares of Frontier Group in a research report on Thursday, March 20th. Bank of America reduced their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group has an average rating of “Hold” and a consensus target price of $6.11.

Frontier Group Stock Down 5.6 %

Shares of ULCC stock opened at $3.37 on Friday. The stock’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $6.58. Frontier Group has a twelve month low of $2.79 and a twelve month high of $10.26. 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 capitalization of $765.83 million, a price-to-earnings ratio of 9.36 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Frontier Group will post 0.91 EPS for the current year.

Insider Activity

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares of the company’s stock, valued at approximately $158,536.56. This represents a 38.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the sale, the chief executive officer now directly owns 864,817 shares in the company, valued at $7,247,166.46. The trade was a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,982 shares of company stock valued at $4,515,647 over the last 90 days. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after acquiring an additional 269,221 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Frontier Group during the third quarter worth $188,000. Barclays PLC grew its position in Frontier Group by 378.6% in the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares in the last quarter. Geode Capital Management LLC increased its stake in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Frontier Group in the 3rd quarter valued at $145,000.

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.