Frontier Group (NASDAQ:ULCC) Price Target Raised to $7.00

Frontier Group (NASDAQ:ULCC) had its price target upped by Barclays from $6.00 to $7.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on ULCC. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Citigroup increased their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Susquehanna increased their price target on shares of Frontier Group from $3.00 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Bank of America cut their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.12.

Frontier Group Stock Performance

NASDAQ ULCC opened at $5.97 on Wednesday. The company has a fifty day moving average of $5.10 and a two-hundred day moving average of $4.98. Frontier Group has a 1 year low of $2.79 and a 1 year high of $8.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The company has a market capitalization of $1.35 billion, a PE ratio of -149.21 and a beta of 2.55.

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 for the quarter, compared to analyst estimates of $943.30 million. During the same period last year, the firm earned ($0.14) earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. As a group, analysts expect that Frontier Group will post 0.05 earnings per share for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Large investors have recently modified their holdings of the business. Norden Group LLC acquired a new stake in Frontier Group during the first quarter worth approximately $293,000. Capstone Investment Advisors LLC acquired a new stake in Frontier Group during the first quarter worth approximately $350,000. Susquehanna Fundamental Investments LLC acquired a new stake in Frontier Group during the first quarter worth approximately $494,000. Russell Investments Group Ltd. boosted its position in Frontier Group by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after acquiring an additional 109,418 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Frontier Group by 23.3% during the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock worth $204,000 after acquiring an additional 4,756 shares during 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.