Susquehanna Issues Positive Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its price objective boosted by research analysts at Susquehanna from $6.00 to $8.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price would suggest a potential downside of 1.96% from the company’s current price.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. Morgan Stanley lowered their target price on 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. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. UBS Group increased their target price on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Evercore ISI raised their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus target price of $6.96.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $8.16 on Tuesday. The business has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $5.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a one year low of $2.79 and a one year high of $8.41. The company has a market cap of $1.84 billion, a PE ratio of -203.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. On average, equities research analysts forecast that Frontier Group will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now directly owns 326,550 shares in the company, valued at $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.88, for a total transaction of $1,260,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This represents a 13.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 355,000 shares of company stock worth $2,569,150. 81.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently added to or reduced their stakes in ULCC. AlTi Global Inc. acquired a new position in shares of Frontier Group during the 2nd quarter valued at about $21,222,000. U S Global Investors Inc. grew its holdings in Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares during the period. Verition Fund Management LLC increased its position in Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 shares during the last quarter. Geode Capital Management LLC raised its stake in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the period. Finally, 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 purchasing an additional 269,221 shares during 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.