Frontier Group (NASDAQ:ULCC) Stock Price Expected to Rise, Susquehanna Analyst Says

Frontier Group (NASDAQ:ULCC) had its price target hoisted by equities researchers at Susquehanna from $6.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target points to a potential downside of 1.96% from the company’s current price.

Several other analysts have also recently issued reports on the company. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Citigroup upped their price target on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI raised 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. Barclays upped their price target on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Morgan Stanley decreased their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.96.

Frontier Group Stock Down 1.9 %

Shares of ULCC stock opened at $8.16 on Tuesday. Frontier Group has a one year low of $2.79 and a one year high of $8.41. 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 capitalization of $1.84 billion, a price-to-earnings ratio of -203.95 and a beta of 2.32. The company’s fifty day moving average price is $6.44 and its 200-day moving average price is $5.18.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. Sell-side analysts expect that Frontier Group will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Josh T. Connor sold 30,000 shares of the 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 transaction, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. The trade was a 16.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 355,000 shares of company stock worth $2,569,150 in the last ninety days. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULCC. Arizona State Retirement System raised its stake in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after buying an additional 3,543 shares during the last quarter. Blue Trust Inc. raised its position in Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the period. XTX Topco Ltd increased its position in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after acquiring an additional 3,936 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after purchasing an additional 4,279 shares during the period.

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.