Frontier Group (NASDAQ:ULCC) Reaches New 1-Year High Following Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price hit a new 52-week high during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $6.00 to $8.00. Susquehanna currently has a neutral rating on the stock. Frontier Group traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares traded. The stock had previously closed at $7.11.

A number of other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. UBS Group boosted their target price on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday. Citigroup increased their price target on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley dropped 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 research note on Wednesday, December 11th. Finally, Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

Insider Buying and Selling

In related 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 of the company’s stock, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the transaction, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $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 a total of 355,000 shares of company stock worth $2,569,150 in the last quarter. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of Frontier Group during the third quarter worth $54,000. Ballentine Partners LLC purchased a new position in Frontier Group during the third quarter worth about $55,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Frontier Group in the 2nd quarter worth about $58,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Frontier Group by 251.0% in 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 during the period. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 3,744 shares during the last quarter.

Frontier Group Stock Performance

The company’s fifty day moving average price is $6.44 and its two-hundred day moving average price is $5.18. 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 firm has a market capitalization of $1.84 billion, a PE ratio of -203.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data 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 firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

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.