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

Frontier Group (NASDAQ:ULCC) had its target price raised by analysts at Susquehanna from $5.00 to $6.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 3.99% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. TD Cowen upped their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Barclays raised their target price on Frontier Group from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Bank of America decreased their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Evercore ISI raised their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.22.

Frontier Group Price Performance

ULCC stock opened at $5.77 on Monday. Frontier Group has a 1 year low of $2.79 and a 1 year high of $8.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $1.30 billion, a PE ratio of -144.21 and a beta of 2.51. The business has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $4.95.

Frontier Group (NASDAQ:ULCC) last issued 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 analyst estimates of $943.30 million. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. Equities research analysts anticipate that Frontier Group will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on 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 transaction, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in shares of Frontier Group during the 2nd quarter worth $45,000. nVerses Capital LLC boosted its position in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the 3rd quarter valued at about $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group in the 3rd quarter valued at about $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group during the 2nd quarter worth about $58,000.

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.