Frontier Group (NASDAQ:ULCC) Price Target Cut to $5.00 by Analysts at Evercore ISI

Frontier Group (NASDAQ:ULCC) had its price target dropped by equities research analysts at Evercore ISI from $7.00 to $5.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price points to a potential upside of 48.37% from the stock’s current price.

Several other research analysts have also commented on ULCC. Citigroup restated a “neutral” rating and issued a $7.25 price objective on shares of Frontier Group in a report on Thursday, March 20th. Morgan Stanley raised their price objective 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. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Bank of America decreased their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Barclays dropped their price target on Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus target price of $6.11.

Frontier Group Stock Down 5.6 %

NASDAQ ULCC opened at $3.37 on Friday. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26. The stock has a market capitalization of $765.83 million, a PE ratio of 9.36 and a beta of 2.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The business’s 50-day moving average is $6.33 and its 200 day moving average is $6.58.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Sell-side analysts forecast that Frontier Group will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the completion of the transaction, the chief executive officer now owns 864,817 shares in the company, valued at approximately $7,247,166.46. This represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,982 shares of company stock valued at $4,515,647. 81.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ULCC. Geode Capital Management LLC grew its stake 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 worth $8,512,000 after acquiring an additional 441,001 shares during the period. Barclays PLC raised its stake in Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after buying an additional 57,642 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after buying an additional 26,682 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after buying an additional 7,380 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares during the last quarter.

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.