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

Frontier Group (NASDAQ:ULCC) had its price objective increased by Morgan Stanley from $7.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the stock. Barclays upped their price target on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. UBS Group increased their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. Finally, Susquehanna increased their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Frontier Group has an average rating of “Hold” and a consensus target price of $7.74.

Frontier Group Trading Down 3.1 %

Shares of Frontier Group stock opened at $7.69 on Monday. 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 12-month low of $2.79 and a 12-month high of $10.26. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 21.36 and a beta of 2.35. The firm’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $6.21.

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

Insider Buying and Selling

In related news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at approximately $1,542,520.22. This represents a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at approximately $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 875,830 shares of company stock valued at $6,984,339. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after purchasing an additional 26,682 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Frontier Group by 31.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock valued at $17,042,000 after purchasing an additional 578,151 shares in the last quarter. Towle & Co. lifted its holdings in Frontier Group by 6.1% during the fourth quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after purchasing an additional 134,723 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Frontier Group by 835.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock valued at $12,101,000 after purchasing an additional 1,520,094 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Frontier Group by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock valued at $11,564,000 after purchasing an additional 35,355 shares in the last quarter.

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.