Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives Average Rating of “Hold” from Analysts

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.46.

ULCC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and raised their target price for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Morgan Stanley lowered their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. 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. Susquehanna raised their price target on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, UBS Group began coverage on shares of Frontier Group in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price target for the company.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $6.49 on Wednesday. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The company has a 50 day moving average price of $6.21 and a 200 day moving average price of $4.97. The stock has a market capitalization of $1.46 billion, a P/E ratio of -162.21 and a beta of 2.43.

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

Insider Transactions at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steve Schuller sold 10,000 shares of the company’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 value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently bought and sold shares of the stock. AlTi Global Inc. purchased a new stake in shares of Frontier Group in the 2nd quarter valued at about $21,222,000. U S Global Investors Inc. lifted its stake in Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after buying an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC lifted its stake in 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 441,001 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after acquiring an additional 269,221 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.