UBS Group Lowers Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its price target cut by equities research analysts at UBS Group from $10.00 to $7.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 27.97% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley lifted their target price on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Susquehanna boosted their price target on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Citigroup reaffirmed a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research report on Thursday. Barclays boosted their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.58.

Frontier Group Price Performance

Shares of ULCC opened at $5.47 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26. The stock has a market cap of $1.24 billion, a P/E ratio of 15.19 and a beta of 2.37. The stock’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $6.57.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. On average, equities analysts predict that Frontier Group will post 0.91 earnings per share for the current year.

Insider Activity at Frontier Group

In other news, CEO Barry Biffle sold 160,000 shares of the business’s 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 transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. The trade was a 16.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at $336,461.30. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 860,982 shares of company stock worth $6,912,597 in the last ninety days. 81.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors and hedge funds have recently bought and sold shares of ULCC. R Squared Ltd acquired a new position in Frontier Group in the 4th quarter worth about $32,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group in the 4th quarter worth about $50,000. Victory Capital Management Inc. acquired a new position in Frontier Group in the 3rd quarter worth about $54,000. Nisa Investment Advisors LLC increased its holdings in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after purchasing an additional 8,507 shares in 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.