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

Frontier Group (NASDAQ:ULCC) had its price objective upped by Barclays from $6.00 to $7.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on ULCC. Deutsche Bank Aktiengesellschaft cut their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Bank of America dropped their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup increased their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Frontier Group has an average rating of “Hold” and an average price target of $6.12.

Frontier Group Price Performance

Shares of ULCC opened at $5.97 on Wednesday. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The firm’s 50 day moving average price is $5.10 and its 200 day moving average price is $4.97. The company has a market cap of $1.35 billion, a P/E ratio of -149.21 and a beta of 2.50. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Frontier Group will post 0.06 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Frontier Group

A number of large investors have recently bought and sold shares of the business. U S Global Investors Inc. boosted its stake in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the period. AlTi Global Inc. acquired a new stake in Frontier Group during the 2nd quarter worth $21,222,000. Vanguard Group Inc. boosted its stake in Frontier Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after purchasing an additional 60,943 shares during the period. Russell Investments Group Ltd. boosted its stake in Frontier Group by 11.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after purchasing an additional 109,418 shares during the period. Finally, Boston Partners lifted its stake in shares of Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after acquiring an additional 672,471 shares during the period.

About Frontier Group

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.