Frontier Group (NASDAQ:ULCC) Reaches New 1-Year High – Time to Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $8.85 and last traded at $8.45, with a volume of 337389 shares changing hands. The stock had previously closed at $8.58.

Analysts Set New Price Targets

ULCC has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Evercore ISI lifted their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Morgan Stanley lowered their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.96.

Frontier Group Price Performance

The firm’s 50-day moving average is $6.85 and its two-hundred day moving average is $5.43. The company has a market cap of $1.92 billion, a P/E ratio of -212.95 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Frontier Group Holdings, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 788,000 shares of company stock worth $6,214,070. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its position in Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Frontier Group by 27.3% during the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after purchasing an additional 4,279 shares during the period. R Squared Ltd purchased a new stake in shares of Frontier Group during the fourth quarter valued at $32,000. Finally, 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 during the period.

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.