Brokerages Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) Price Target at $6.46

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.96.

ULCC has been the topic of several research reports. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Citigroup lifted their target price on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. UBS Group lifted their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley cut their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In related news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. The trade was a 16.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 355,000 shares of company stock worth $2,569,150. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

A number of institutional investors and hedge funds have recently modified their holdings of ULCC. Victory Capital Management Inc. purchased a new position in Frontier Group in the 3rd quarter valued at $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group in the third quarter worth about $55,000. Vanguard Personalized Indexing Management LLC acquired a new position in Frontier Group during the second quarter worth about $58,000. Blue Trust Inc. grew its stake in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Frontier Group by 251.0% in the 3rd 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.

Frontier Group Stock Up 4.1 %

Shares of ULCC stock opened at $8.32 on Friday. The stock’s fifty day moving average price is $6.41 and its 200 day moving average price is $5.16. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.41. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -207.95 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last released its 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 company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that Frontier Group will post 0.05 earnings per share for the current fiscal year.

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.