Susquehanna Increases Frontier Group (NASDAQ:ULCC) Price Target to $8.00

Frontier Group (NASDAQ:ULCC) had its price objective raised by Susquehanna from $6.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

ULCC has been the topic of several other reports. Citigroup increased their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America cut their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Evercore ISI boosted their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays increased their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.96.

Frontier Group Stock Up 4.1 %

Frontier Group stock opened at $8.32 on Tuesday. The business’s 50-day moving average price is $6.41 and its 200 day moving average price is $5.16. 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 firm has a market cap of $1.88 billion, a price-to-earnings ratio of -207.95 and a beta of 2.32. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.41.

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 firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same quarter last year, the firm earned ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Frontier Group will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Steve Schuller sold 5,000 shares of the company’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 transaction, the senior vice president now directly owns 47,590 shares in the company, valued at approximately $336,461.30. This represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Josh T. Connor sold 30,000 shares of the 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 completion of the transaction, the director now owns 326,550 shares of the company’s stock, valued at $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 355,000 shares of company stock valued at $2,569,150 in the last three months. 81.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares during the last quarter. Algert Global LLC grew its position in Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after acquiring an additional 200,885 shares in the last quarter. Creative Planning increased its stake in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after purchasing an additional 104,707 shares during the period. U S Global Investors Inc. lifted its position in shares of Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the third quarter valued at approximately $54,000.

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.