Frontier Group (NASDAQ:ULCC) Given New $9.00 Price Target at Morgan Stanley

Frontier Group (NASDAQ:ULCC) had its target price decreased by stock analysts at Morgan Stanley from $10.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 122.50% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. 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 report on Thursday, April 3rd. Evercore ISI dropped their price target on Frontier Group from $7.00 to $5.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. UBS Group cut their price target on Frontier Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Citigroup decreased their price objective on Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a report on Friday, April 11th. 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.00.

Frontier Group Stock Down 3.0%

ULCC stock traded down $0.13 during trading on Monday, hitting $4.05. 339,336 shares of the company’s stock were exchanged, compared to its average volume of 3,633,579. The business has a 50-day moving average price of $4.10 and a two-hundred day moving average price of $6.13. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $921.31 million, a price-to-earnings ratio of 11.24 and a beta of 2.55. Frontier Group has a 52-week low of $2.79 and a 52-week high of $10.26.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $996.05 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that Frontier Group will post 0.91 EPS for the current year.

Insider Transactions at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the transaction, the executive vice president now directly owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the transaction, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. This represents a 38.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 48.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULCC. R Squared Ltd purchased a new position in shares of Frontier Group during the 4th quarter worth $32,000. Byrne Asset Management LLC acquired a new position in Frontier Group in the first quarter valued at $35,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group in the fourth quarter valued at $50,000. Nisa Investment Advisors LLC lifted its position in Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after buying an additional 7,380 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Frontier Group in the 1st quarter worth about $76,000.

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.