Barclays Issues Positive Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its price target upped by Barclays from $10.00 to $14.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the stock. UBS Group increased their target price on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Citigroup boosted their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. Finally, Susquehanna boosted their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.41.

Frontier Group Stock Up 7.7 %

Shares of Frontier Group stock opened at $10.06 on Monday. Frontier Group has a 12 month low of $2.79 and a 12 month high of $10.26. The business has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $5.84. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.27 billion, a PE ratio of -251.44 and a beta of 2.35.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.20. Research analysts predict that Frontier Group will post 0.12 EPS for the current year.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now directly owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 788,000 shares of company stock valued at $6,214,070 in the last ninety days. 81.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. U S Global Investors Inc. lifted its stake in Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Highland Peak Capital LLC bought a new stake in shares of Frontier Group in the 4th quarter valued at about $6,492,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Frontier Group by 247.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock valued at $6,585,000 after purchasing an additional 659,811 shares during the last quarter. Verition Fund Management LLC grew its holdings in Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 shares during the period. Finally, Geode Capital Management LLC increased its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after buying an additional 441,001 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.