Frontier Group (NASDAQ:ULCC) Given New $7.00 Price Target at Bank of America

Frontier Group (NASDAQ:ULCC) had its target price cut by investment analysts at Bank of America from $10.00 to $7.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 62.04% from the company’s current price.

A number of other brokerages have also recently weighed in on ULCC. Citigroup restated a “neutral” rating and issued a $7.25 price objective on shares of Frontier Group in a report on Thursday, March 20th. UBS Group dropped their price target on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Susquehanna upped their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley lifted their target price on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Finally, Barclays upped their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.81.

Frontier Group Stock Performance

ULCC opened at $4.32 on Thursday. Frontier Group has a 52 week low of $2.79 and a 52 week high of $10.26. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $6.65. The firm has a market cap of $981.71 million, a P/E ratio of 12.00 and a beta of 2.37.

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. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. On average, equities analysts expect that Frontier Group will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the transaction, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 695,982 shares of company stock valued at $5,776,447 in the last ninety days. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Frontier Group by 8.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock valued at $536,000 after acquiring an additional 5,834 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Frontier Group by 835.6% in the 4th 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 during the last quarter. Squarepoint Ops LLC boosted its position in shares of Frontier Group by 1,494.8% in the 4th quarter. Squarepoint Ops LLC now owns 384,403 shares of the company’s stock valued at $2,733,000 after purchasing an additional 360,299 shares during the period. Towle & Co. grew its stake in Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock worth $16,701,000 after buying an additional 134,723 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Frontier Group by 310.2% during the fourth quarter. Two Sigma Advisers LP now owns 274,400 shares of the company’s stock worth $1,951,000 after buying an additional 207,500 shares during the period.

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.