Frontier Group (NASDAQ:ULCC) Reaches New 12-Month High – Time to Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.85 and last traded at $8.45, with a volume of 337389 shares traded. The stock had previously closed at $8.58.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Citigroup increased their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. Morgan Stanley cut their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, UBS Group upped their target price on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Group presently has a consensus rating of “Hold” and a consensus target price of $6.96.

Frontier Group Stock Performance

The firm’s fifty day moving average price is $6.77 and its 200 day moving average price is $5.38. The firm has a market cap of $1.92 billion, a P/E ratio of -212.17 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. Sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Activity at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the sale, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 788,000 shares of company stock valued at $6,214,070 over the last quarter. 81.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Several hedge funds have recently added to or reduced their stakes in ULCC. Rhumbline Advisers lifted its holdings in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after acquiring an additional 3,543 shares during the period. Blue Trust Inc. raised its position in shares of Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after acquiring an additional 3,744 shares during the period. XTX Topco Ltd boosted its stake in shares of Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after acquiring an additional 3,936 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring an additional 4,279 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake 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 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.