Bank of America Lowers Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its price objective decreased by Bank of America from $10.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 102.90% from the stock’s previous close.

A number of other equities analysts also recently issued reports on ULCC. Morgan Stanley increased their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Citigroup reissued a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research note on Thursday, March 20th. Susquehanna raised their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. UBS Group decreased their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.81.

Frontier Group Stock Down 9.2 %

ULCC stock opened at $3.45 on Thursday. Frontier Group has a one year low of $2.79 and a one year high of $10.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The company has a fifty day moving average of $6.98 and a 200-day moving average of $6.62. The stock has a market capitalization of $784.01 million, a PE ratio of 9.58 and a beta of 2.37.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating 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, analysts expect that Frontier Group will post 0.91 EPS for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 273,000 shares of Frontier Group stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the completion of the sale, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. The trade was a 25.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the transaction, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. This trade represents a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 695,982 shares of company stock valued at $5,776,447 over the last quarter. Insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Barclays PLC raised its stake in Frontier Group by 378.6% during the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock worth $389,000 after purchasing an additional 57,642 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after buying an additional 269,221 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of Frontier Group during the 4th quarter worth $327,000.

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.