Citigroup Cuts Frontier Group (NASDAQ:ULCC) Price Target to $4.00

Frontier Group (NASDAQ:ULCC) had its price objective decreased by Citigroup from $7.25 to $4.00 in a report issued on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. UBS Group decreased their target price on Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Morgan Stanley lifted 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. Evercore ISI cut their target price on shares of Frontier Group from $7.00 to $5.00 and set an “in-line” rating on the stock in a research note on Friday. Susquehanna decreased their price target on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.11.

Frontier Group Price Performance

ULCC opened at $3.37 on Friday. The firm has a market cap of $765.83 million, a price-to-earnings ratio of 9.36 and a beta of 2.52. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average price is $6.33 and its 200 day moving average price is $6.59. Frontier Group has a 12-month low of $2.79 and a 12-month high of $10.26.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share 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, sell-side analysts expect that Frontier Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the transaction, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This represents a 33.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,982 shares of company stock worth $4,515,647. 81.50% of the stock is owned by company insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently modified their holdings of ULCC. Geode Capital Management LLC lifted its holdings in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the period. Barclays PLC lifted its stake in shares of Frontier Group by 378.6% in the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the period. Vanguard Group Inc. boosted its holdings in Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after buying an additional 26,682 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after buying an additional 7,380 shares in the last quarter. Finally, 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 during the period.

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.