Frontier Group (NASDAQ:ULCC) Price Target Raised to $10.00

Frontier Group (NASDAQ:ULCC) had its target price hoisted by investment analysts at Barclays from $7.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 47.49% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Susquehanna upped their price target on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. TD Cowen raised their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Bank of America cut their target price on shares of 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, JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.52.

Frontier Group Stock Up 3.5 %

Shares of ULCC stock traded up $0.23 during trading hours on Thursday, reaching $6.78. The company had a trading volume of 1,247,394 shares, compared to its average volume of 2,095,438. The stock’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $4.95. The company has a market capitalization of $1.53 billion, a P/E ratio of -169.96 and a beta of 2.51. 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 has a twelve month low of $2.79 and a twelve month high of $8.33.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts expect that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after acquiring an additional 8,507 shares in the last quarter. Algert Global LLC raised its holdings in shares of Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after purchasing an additional 200,885 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after purchasing an additional 269,221 shares during the last quarter. Intech Investment Management LLC bought a new stake in Frontier Group during the third quarter worth approximately $72,000. Finally, OneDigital Investment Advisors LLC grew its position in Frontier Group by 4.9% in the third quarter. OneDigital Investment Advisors LLC now owns 309,838 shares of the company’s stock worth $1,658,000 after buying an additional 14,459 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.