Frontier Group (NASDAQ:ULCC) Shares Up 5.6% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price shot up 5.6% during trading on Wednesday . The company traded as high as $8.18 and last traded at $8.22. 487,149 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,269,278 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

A number of equities research analysts have commented on ULCC shares. Barclays increased their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. UBS Group increased their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. Evercore ISI boosted their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley dropped their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Price Performance

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -210.70 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 $7.13 and a two-hundred day simple moving average of $5.59.

Frontier Group (NASDAQ:ULCC) last posted its quarterly 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 company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) EPS. As a group, equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.12 EPS for the current year.

Insider Transactions at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their position. The sale 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 transaction, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at $336,461.30. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 788,000 shares of company stock worth $6,214,070 over the last quarter. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Frontier Group during the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC grew its holdings in 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. Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the third quarter worth about $54,000. Ballentine Partners LLC bought a new position in shares of Frontier Group in the third quarter worth $55,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Frontier Group by 251.0% during the third 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.

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.