Frontier Group (NASDAQ:ULCC) Given New $7.00 Price Target at UBS Group

Frontier Group (NASDAQ:ULCC) had its price target reduced by research analysts at UBS Group from $10.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 27.97% from the company’s previous close.

Several other equities research analysts have also commented on the company. Susquehanna upped their target price on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Citigroup restated a “neutral” rating and set a $7.25 target price on shares of Frontier Group in a research report on Thursday. Barclays upped their target price on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.58.

Frontier Group Trading Down 0.9 %

Shares of ULCC stock opened at $5.47 on Thursday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 15.19 and a beta of 2.37. The stock has a 50-day moving average of $7.73 and a 200-day moving average of $6.57. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26.

Frontier Group (NASDAQ:ULCC) last announced its earnings results 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, equities research analysts forecast that Frontier Group will post 0.91 earnings per share for the current year.

Insider Activity at Frontier Group

In other 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 value of $770,269.10. Following the completion of the transaction, the executive vice president now directly owns 175,886 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is owned by insiders.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in Frontier Group during the third quarter worth about $54,000. Intech Investment Management LLC purchased a new position in Frontier Group during the third quarter worth about $72,000. Charles Schwab Investment Management Inc. grew its position in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares in the last quarter. Algert Global LLC grew its position in Frontier Group by 80.2% during the third quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after buying an additional 200,885 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after buying 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.