UBS Group Cuts Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its price objective cut by UBS Group from $10.00 to $7.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on ULCC. Citigroup restated a “neutral” rating and issued a $7.25 price objective on shares of Frontier Group in a research note on Thursday. Susquehanna upped their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their target price on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Finally, Morgan Stanley upped their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.58.

Frontier Group Price Performance

Shares of ULCC opened at $5.47 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of 15.19 and a beta of 2.37. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $7.73 and a two-hundred day simple moving average of $6.60. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, equities analysts anticipate that Frontier Group will post 0.91 EPS for the current year.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 273,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the sale, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at $6,893,935.48. This represents a 25.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the senior vice president now directly owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 860,982 shares of company stock valued at $6,912,597 in the last ninety days. 81.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Group

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new position in shares of Frontier Group during the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS bought a new position in shares of Frontier Group during the fourth quarter valued at approximately $50,000. Nisa Investment Advisors LLC boosted its stake in shares of Frontier Group by 1,230.0% during the fourth 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. Victory Capital Management Inc. bought a new position in shares of Frontier Group during the third quarter valued at approximately $54,000. Finally, ProShare Advisors LLC bought a new position in shares of Frontier Group during the fourth quarter valued at approximately $84,000.

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.