Frontier Group (NASDAQ:ULCC) Price Target Raised to $8.50

Frontier Group (NASDAQ:ULCC) had its price objective hoisted by UBS Group from $6.00 to $8.50 in a research note released on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on the company. Evercore ISI lifted their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Morgan Stanley dropped their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. TD Cowen boosted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, Susquehanna boosted their price objective on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.96.

Frontier Group Stock Performance

NASDAQ ULCC opened at $8.16 on Tuesday. The stock has a market capitalization of $1.84 billion, a PE ratio of -203.95 and a beta of 2.32. The business has a 50 day simple moving average of $6.49 and a two-hundred day simple moving average of $5.20. 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 has a 1-year low of $2.79 and a 1-year high of $8.41.

Frontier Group (NASDAQ:ULCC) last announced 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 firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. On average, research analysts predict that Frontier Group will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other news, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the transaction, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 355,000 shares of company stock valued at $2,569,150 in the last ninety days. Corporate insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in shares of Frontier Group in the 3rd quarter worth $54,000. Ballentine Partners LLC bought a new position in shares of Frontier Group in the 3rd quarter worth $55,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group in the 2nd quarter worth $58,000. Blue Trust Inc. raised its position in shares of Frontier Group by 41.2% in the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after acquiring an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after acquiring an additional 8,507 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.