UBS Group Forecasts Strong Price Appreciation for Frontier Group (NASDAQ:ULCC) Stock

Frontier Group (NASDAQ:ULCC) had its price target boosted by research analysts at UBS Group from $6.00 to $8.50 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 4.17% from the company’s previous close.

A number of other brokerages have also issued reports on ULCC. Citigroup boosted their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Bank of America dropped their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna boosted their price target on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Morgan Stanley reduced their price objective 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 assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Trading Down 1.9 %

Shares of NASDAQ:ULCC opened at $8.16 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock’s 50-day moving average is $6.44 and its 200-day moving average is $5.18. The company has a market cap of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.41.

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

Insider Activity

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This represents a 16.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 355,000 shares of company stock worth $2,569,150. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

A number of large investors have recently made changes to their positions in the company. U S Global Investors Inc. lifted its holdings in shares of Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. AlTi Global Inc. bought a new stake in shares of Frontier Group during the second quarter worth approximately $21,222,000. Geode Capital Management LLC raised its stake in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 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.