Frontier Group (NASDAQ:ULCC) PT Raised to $5.00

Frontier Group (NASDAQ:ULCC) had its price objective upped by Susquehanna from $3.00 to $5.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

ULCC has been the topic of several other research reports. Evercore ISI boosted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an in-line rating in a research note on Thursday, October 3rd. Raymond James raised shares of Frontier Group from an underperform rating to a market perform rating in a report on Monday, September 30th. Barclays decreased their target price on shares of Frontier Group from $7.00 to $6.00 and set an overweight rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Frontier Group from a neutral rating to an underweight rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Frontier Group from $5.00 to $4.00 and set a hold rating for the company in a report on Friday, August 9th. One equities research 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 stock currently has a consensus rating of Hold and a consensus price target of $5.77.

Frontier Group Trading Down 1.2 %

NASDAQ:ULCC opened at $5.77 on Wednesday. Frontier Group has a one year low of $2.79 and a one year high of $8.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The company’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $5.05. The firm has a market capitalization of $1.30 billion, a P/E ratio of -19.90 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping 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 firm posted $0.31 earnings per share. Frontier Group’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts forecast that Frontier Group will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 81.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ULCC. Boston Partners increased 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 valued at $8,518,000 after buying an additional 672,471 shares during the last quarter. AlTi Global Inc. purchased a new stake in Frontier Group during the second quarter valued at approximately $21,222,000. Bleakley Financial Group LLC increased its holdings 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 last quarter. Norden Group LLC purchased a new stake in Frontier Group during the first quarter valued at approximately $293,000. Finally, Algert Global LLC increased its holdings in Frontier Group by 119.0% during the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock valued at $1,236,000 after buying an additional 136,159 shares during the last quarter.

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.