UBS Group Issues Positive Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its price target increased by research analysts at UBS Group from $6.00 to $8.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 6.38% from the stock’s previous close.

Several other research firms also recently issued reports on ULCC. Morgan Stanley cut their price objective 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. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Bank of America cut their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Citigroup upped their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Susquehanna upped their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Frontier Group has an average rating of “Hold” and an average target price of $6.74.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $7.99 on Tuesday. The company has a market capitalization of $1.80 billion, a PE ratio of -199.70 and a beta of 2.32. 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 simple moving average of $6.36 and a two-hundred day simple moving average of $5.14. Frontier Group has a one year low of $2.79 and a one year high of $8.41.

Frontier Group (NASDAQ:ULCC) last announced its 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 business had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts expect that Frontier Group will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Josh T. Connor sold 30,000 shares of the company’s 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 sale, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,000 shares of company stock worth $1,308,350. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in shares of Frontier Group during the 3rd quarter valued at approximately $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group during the 3rd quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group during the 2nd quarter valued at approximately $58,000. Blue Trust Inc. lifted its position in shares of Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 buying an additional 8,507 shares in 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.