Morgan Stanley Issues Pessimistic Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its price objective decreased by equities researchers at Morgan Stanley from $8.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 8.02% from the stock’s current price.

ULCC has been the subject of several other reports. Evercore ISI raised their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. TD Cowen boosted their target price on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. UBS Group started coverage on Frontier Group in a research note on Tuesday, November 26th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, Citigroup upped their target price on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group currently has a consensus rating of “Hold” and a consensus target price of $6.46.

Frontier Group Trading Down 6.0 %

Frontier Group stock opened at $6.48 on Wednesday. The firm has a 50-day moving average of $6.17 and a 200-day moving average of $4.96. 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 company has a market cap of $1.46 billion, a price-to-earnings ratio of -162.00 and a beta of 2.43.

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 company 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 period in the prior year, the business earned ($0.14) EPS. On average, equities analysts expect that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several large investors have recently modified their holdings of ULCC. Blue Trust Inc. purchased a new position in Frontier Group during the second quarter worth approximately $45,000. nVerses Capital LLC raised its stake in shares of Frontier Group by 152.5% in 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 during the period. Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the 3rd quarter valued at $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group in the 3rd quarter valued at $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group in the 2nd quarter valued at $58,000.

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.