Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives $6.46 Average Target Price from Brokerages

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.96.

A number of analysts have recently issued reports on ULCC shares. Bank of America reduced their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Citigroup increased their price target on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley decreased their price target on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Barclays upped their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, TD Cowen lifted their target price on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th.

Insider Activity at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.88, for a total transaction of $1,260,800.00. Following the transaction, the chief executive officer now directly owns 1,024,817 shares in the company, valued at $8,075,557.96. This trade represents a 13.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 355,000 shares of company stock valued at $2,569,150. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently bought and sold shares of ULCC. Bank of New York Mellon Corp boosted its position in Frontier Group by 24.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock valued at $643,000 after acquiring an additional 25,523 shares in the last quarter. Rhumbline Advisers grew its stake in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Arizona State Retirement System grew its stake in Frontier Group by 29.0% in the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Frontier Group in the second quarter worth about $415,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Frontier Group by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 309,282 shares of the company’s stock valued at $1,524,000 after buying an additional 21,829 shares during the last quarter.

Frontier Group Trading Up 4.1 %

NASDAQ:ULCC opened at $8.32 on Friday. Frontier Group has a one year low of $2.79 and a one year high of $8.41. The business has a fifty day moving average price of $6.41 and a 200-day moving average price of $5.16. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -207.95 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Sell-side analysts forecast that Frontier Group will post 0.05 EPS 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.