Frontier Group (NASDAQ:ULCC) Price Target Raised to $7.15

Frontier Group (NASDAQ:ULCC) had its price objective raised by Citigroup from $4.70 to $7.15 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also commented on the company. Bank of America cut their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Evercore ISI increased their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays reduced their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. 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, Susquehanna raised 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.02.

Frontier Group Stock Up 1.9 %

Shares of NASDAQ ULCC opened at $6.98 on Tuesday. The company’s 50 day moving average price is $4.66 and its 200-day moving average price is $4.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33. The company has a market capitalization of $1.57 billion, a P/E ratio of -24.07 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts forecast that Frontier Group will post 0.08 earnings per share for the current year.

Insider Activity

In related news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated 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 owns 34,035 shares in the company, valued at $204,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Hedge funds have recently modified their holdings of the company. Boston Partners lifted its holdings in Frontier Group by 176.6% during the first 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. U S Global Investors Inc. increased its position in shares of 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 valued at $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. AlTi Global Inc. purchased a new position in shares of Frontier Group in the 2nd quarter worth about $21,222,000. Bleakley Financial Group LLC grew 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 valued at $204,000 after buying an additional 4,756 shares during the period. Finally, Norden Group LLC bought a new position in Frontier Group during the first quarter valued at about $293,000.

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.