Barclays Issues Positive Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its target price increased by Barclays from $7.00 to $10.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

ULCC has been the subject of several other reports. Citigroup raised their target price on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Susquehanna lifted their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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 research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.52.

Frontier Group Stock Up 2.4 %

NASDAQ:ULCC traded up $0.16 during mid-day trading on Thursday, hitting $6.89. 345,091 shares of the company’s stock were exchanged, compared to its average volume of 2,089,804. 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 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The business has a fifty day moving average price of $5.61 and a 200 day moving average price of $4.96. The company has a market cap of $1.55 billion, a PE ratio of -168.21 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period in the previous year, the business earned ($0.14) earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Equities analysts predict that Frontier Group will post 0.04 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in Frontier Group in the second quarter valued at approximately $45,000. nVerses Capital LLC lifted its holdings in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group during the 3rd quarter valued at about $54,000. Ballentine Partners LLC bought a new stake in shares of Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group during the second quarter valued at approximately $58,000.

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.