Frontier Group (NASDAQ:ULCC) Stock Price Expected to Rise, UBS Group Analyst Says

Frontier Group (NASDAQ:ULCC) had its target price upped by investment analysts at UBS Group from $6.00 to $8.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 4.17% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Evercore ISI increased their target price on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Barclays increased their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup lifted their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and upped their price target for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Finally, Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Frontier Group presently has an average rating of “Hold” and an average target price of $6.96.

Frontier Group Price Performance

Shares of NASDAQ:ULCC opened at $8.16 on Tuesday. The firm has a market cap of $1.84 billion, a PE ratio of -203.95 and a beta of 2.32. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.41. The firm’s fifty day moving average is $6.44 and its 200-day moving average is $5.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last released its quarterly 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 business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. Sell-side analysts predict that Frontier Group will post 0.05 earnings per share for the current year.

Insider Activity

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 355,000 shares of company stock worth $2,569,150 in the last three months. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently added to or reduced their stakes in ULCC. SkyView Investment Advisors LLC raised its stake in shares of Frontier Group by 9.7% in the third quarter. SkyView Investment Advisors LLC now owns 357,003 shares of the company’s stock worth $1,910,000 after purchasing an additional 31,559 shares during the last quarter. Virtu Financial LLC bought a new stake in Frontier Group during the third quarter worth $145,000. Barclays PLC grew its holdings in Frontier Group by 378.6% during the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock worth $389,000 after buying an additional 57,642 shares in the last quarter. Geode Capital Management LLC raised its position in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares during the last quarter. Finally, MCIA Inc lifted its stake in Frontier Group by 11.2% during the 3rd quarter. MCIA Inc now owns 163,992 shares of the company’s stock valued at $877,000 after acquiring an additional 16,577 shares in 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.