Frontier Group (NASDAQ:ULCC) Given “Neutral” Rating at Citigroup

Citigroup restated their neutral rating on shares of Frontier Group (NASDAQ:ULCC) in a report released on Thursday, MarketBeat reports. Citigroup currently has a $7.25 price target on the stock.

ULCC has been the topic of several other research reports. Barclays boosted their target price on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. UBS Group increased their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Susquehanna lifted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.58.

Frontier Group Stock Performance

Shares of ULCC stock opened at $5.52 on Thursday. The stock has a market capitalization of $1.25 billion, a PE ratio of 15.33 and a beta of 2.37. The business’s 50 day simple moving average is $7.78 and its 200 day simple moving average is $6.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group has a one year low of $2.79 and a one year high of $10.26.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, research analysts forecast that Frontier Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In other news, CEO Barry Biffle sold 273,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the completion of the sale, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at $6,893,935.48. This trade represents a 25.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. This trade represents a 38.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 860,982 shares of company stock worth $6,912,597. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Large investors have recently modified their holdings of the business. R Squared Ltd purchased a new position in Frontier Group in the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS purchased a new position in Frontier Group during the fourth quarter valued at approximately $50,000. Victory Capital Management Inc. purchased a new position in Frontier Group during the third quarter valued at approximately $54,000. Nisa Investment Advisors LLC grew its position in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares in the last quarter.

About Frontier Group

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.