Frontier Group (NASDAQ:ULCC) Price Target Lowered to $7.00 at Bank of America

Frontier Group (NASDAQ:ULCC) had its target price cut by research analysts at Bank of America from $10.00 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 62.04% from the company’s current price.

A number of other research firms have also weighed in on ULCC. Citigroup reiterated a “neutral” rating and issued a $7.25 price objective on shares of Frontier Group in a research report on Thursday, March 20th. Susquehanna raised their target price on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their price target on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One equities 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, Frontier Group presently has a consensus rating of “Hold” and an average price target of $7.81.

Frontier Group Price Performance

Shares of NASDAQ:ULCC opened at $4.32 on Thursday. Frontier Group has a one year low of $2.79 and a one year high of $10.26. The stock has a market capitalization of $981.71 million, a price-to-earnings ratio of 12.00 and a beta of 2.37. The company has a 50-day simple moving average of $7.17 and a 200-day simple moving average of $6.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 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%. On average, analysts predict that Frontier Group will post 0.91 EPS for the current year.

Insider Activity

In related news, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction on Thursday, February 20th. The stock was 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 of the company’s stock, valued at approximately $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Barry Biffle sold 273,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the completion of the sale, the chief executive officer now directly owns 816,817 shares in the company, valued at $6,893,935.48. This trade represents a 25.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 695,982 shares of company stock worth $5,776,447. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Frontier Group by 8.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock valued at $536,000 after purchasing an additional 5,834 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after purchasing an additional 1,520,094 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Frontier Group by 1,494.8% in the 4th quarter. Squarepoint Ops LLC now owns 384,403 shares of the company’s stock valued at $2,733,000 after buying an additional 360,299 shares in the last quarter. Towle & Co. grew its holdings in Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after buying an additional 134,723 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Frontier Group by 310.2% during the fourth quarter. Two Sigma Advisers LP now owns 274,400 shares of the company’s stock worth $1,951,000 after buying an additional 207,500 shares in the last quarter.

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.