Barclays Increases Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its price target increased by research analysts at Barclays from $6.00 to $7.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 15.13% from the company’s current price.

A number of other equities analysts have also weighed in on ULCC. Deutsche Bank Aktiengesellschaft lowered their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Citigroup upped their target price on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI upped their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna upped their target price on Frontier Group from $3.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. One investment 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. According to MarketBeat, Frontier Group currently has a consensus rating of “Hold” and a consensus price target of $6.12.

Frontier Group Price Performance

Frontier Group stock opened at $6.08 on Wednesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -152.00 and a beta of 2.55. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33. The stock’s 50 day moving average price is $5.05 and its two-hundred day moving average price is $4.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52.

Frontier Group (NASDAQ:ULCC) last issued its earnings results 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). Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period in the previous year, the company earned ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Frontier Group will post 0.06 earnings per share for the current year.

Insider Transactions at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at approximately $204,210. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after buying an additional 2,746 shares in the last quarter. Arizona State Retirement System grew its holdings in Frontier Group by 29.0% during the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after buying an additional 3,521 shares in the last quarter. Rhumbline Advisers grew its holdings in Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after buying an additional 3,543 shares in the last quarter. Blue Trust Inc. grew its holdings in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after buying an additional 3,936 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.