Frontier Group (NASDAQ:ULCC) Stock Price Expected to Rise, Barclays Analyst Says

Frontier Group (NASDAQ:ULCC) had its price target raised by Barclays from $7.00 to $10.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently commented on ULCC. Evercore ISI upped their target price on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Bank of America cut their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Citigroup raised their price target 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Frontier Group presently has a consensus rating of “Hold” and a consensus target price of $6.52.

Frontier Group Price Performance

NASDAQ:ULCC traded up $0.16 during trading hours on Thursday, reaching $6.89. 345,091 shares of the company were exchanged, compared to its average volume of 2,089,804. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33. The company has a market capitalization of $1.55 billion, a P/E ratio of -168.21 and a beta of 2.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The business has a 50 day moving average of $5.61 and a 200 day moving average of $4.96.

Frontier Group (NASDAQ:ULCC) last released its quarterly 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 analysts’ expectations of $943.30 million. During the same period in the prior year, the business earned ($0.14) EPS. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts forecast that Frontier Group will post 0.04 EPS for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 81.50% of the stock is owned by insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently modified their holdings of ULCC. IHT Wealth Management LLC purchased a new position in shares of Frontier Group during the 3rd quarter worth $71,000. Verition Fund Management LLC grew its stake in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares in the last quarter. Algert Global LLC lifted 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after acquiring an additional 269,221 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.