Frontier Group (NASDAQ:ULCC) Stock Price Down 12.3% on Analyst Downgrade

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) were down 12.3% on Friday after Citigroup lowered their price target on the stock from $7.25 to $4.00. Citigroup currently has a neutral rating on the stock. Frontier Group traded as low as $3.09 and last traded at $3.13. Approximately 1,217,905 shares were traded during trading, a decline of 49% from the average daily volume of 2,407,465 shares. The stock had previously closed at $3.57.

Several other brokerages have also issued reports on ULCC. Susquehanna decreased their price objective on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Barclays reduced their price target on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Bank of America cut their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley increased their target price 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 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 stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus price target of $6.11.

Insiders Place Their Bets

In related news, 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 transaction of $100,457.76. Following the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the completion of the sale, the chief executive officer now owns 864,817 shares of the company’s stock, valued at $7,247,166.46. This trade represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 535,982 shares of company stock valued at $4,515,647 in the last three months. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

A number of large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Frontier Group during the fourth quarter worth $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group during the 4th quarter worth about $50,000. Nisa Investment Advisors LLC grew its stake in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after buying an additional 7,380 shares during the last quarter. ProShare Advisors LLC bought a new position in Frontier Group in the 4th quarter valued at about $84,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Frontier Group during the fourth quarter worth approximately $96,000.

Frontier Group Trading Down 5.6 %

The business has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.58. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The company has a market cap of $765.83 million, a P/E ratio of 9.36 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last issued 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 return on equity of 9.83% and a net margin of 2.25%. On average, analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current 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.