Frontier Group (NASDAQ:ULCC) Earns “Neutral” Rating from Citigroup

Frontier Group (NASDAQ:ULCC)‘s stock had its “neutral” rating reissued by equities research analysts at Citigroup in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $7.25 price target on the stock. Citigroup’s price objective points to a potential upside of 32.54% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Barclays raised their target price on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. UBS Group raised their target price on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Finally, Susquehanna raised their target price on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Frontier Group presently has a consensus rating of “Hold” and an average price target of $7.58.

Frontier Group Stock Down 0.9 %

Shares of ULCC opened at $5.47 on Thursday. Frontier Group has a 52-week low of $2.79 and a 52-week high of $10.26. The company has a market capitalization of $1.24 billion, a PE ratio of 15.19 and a beta of 2.37. The stock has a fifty day simple moving average of $7.73 and a two-hundred day simple moving average of $6.57. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, equities analysts forecast that Frontier Group will post 0.91 EPS for the current year.

Insider Activity

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the transaction, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 860,982 shares of company stock worth $6,912,597. 81.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ULCC. Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the 3rd quarter valued at approximately $54,000. Intech Investment Management LLC purchased a new stake in Frontier Group during the third quarter worth $72,000. Charles Schwab Investment Management Inc. boosted 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 in the last quarter. Algert Global LLC raised its holdings in shares of Frontier Group by 80.2% in the third quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after acquiring an additional 200,885 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after acquiring an additional 8,507 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.