Frontier Group (NASDAQ:ULCC – Free Report) had its target price trimmed by Evercore ISI from $7.00 to $5.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an in-line rating on the stock.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded 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 report on Tuesday, March 4th. Susquehanna cut their price objective on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Barclays lowered their target price on Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Bank of America dropped their target price on 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 upped their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.11.
Check Out Our Latest Analysis on Frontier Group
Frontier Group Price Performance
Frontier Group (NASDAQ:ULCC – Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (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%. As a group, research analysts expect that Frontier Group will post 0.91 EPS for the current fiscal year.
Insider Transactions at Frontier Group
In other news, SVP Alexandre Clerc sold 15,152 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the transaction, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. This represents a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 535,982 shares of company stock valued at $4,515,647 over the last three months. Corporate insiders own 81.50% of the company’s stock.
Hedge Funds Weigh In On Frontier Group
Several hedge funds have recently modified their holdings of ULCC. R Squared Ltd purchased a new stake in Frontier Group in the 4th quarter worth $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group in the fourth quarter worth about $50,000. Nisa Investment Advisors LLC lifted its position in shares of Frontier Group by 1,230.0% in 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. ProShare Advisors LLC bought a new position in Frontier Group during the fourth quarter valued at approximately $84,000. Finally, SBI Securities Co. Ltd. purchased a new position in Frontier Group during the 4th quarter valued at approximately $96,000.
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.
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