UBS Group Initiates Coverage on Frontier Group (NASDAQ:ULCC)

Equities research analysts at UBS Group began coverage on shares of Frontier Group (NASDAQ:ULCC) in a report issued on Tuesday. The brokerage set a “neutral” rating and a $6.00 price target on the stock. UBS Group’s price target suggests a potential upside of 5.45% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Barclays lifted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Evercore ISI increased their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. 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, Citigroup raised their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One 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, Frontier Group currently has an average rating of “Hold” and a consensus target price of $6.32.

Frontier Group Price Performance

Shares of ULCC stock opened at $5.69 on Tuesday. 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 stock’s fifty day simple moving average is $5.86 and its 200 day simple moving average is $4.94. Frontier Group has a one year low of $2.79 and a one year high of $8.33. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -142.21 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. On average, analysts expect that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction 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 transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several hedge funds have recently added to or reduced their stakes in the business. U S Global Investors Inc. lifted its position in Frontier Group by 71.4% in 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 acquiring an additional 3,150,768 shares in the last quarter. AlTi Global Inc. bought a new stake in shares of Frontier Group in the second quarter valued at about $21,222,000. Vanguard Group Inc. boosted its position in shares of Frontier Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after buying an additional 60,943 shares during the period. Geode Capital Management LLC grew its holdings in shares of Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after buying an additional 441,001 shares in the last quarter. Finally, Boston Partners raised its position in Frontier Group by 176.6% in the 1st 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.

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.