Susquehanna Cuts Frontier Group (NASDAQ:ULCC) Price Target to $3.00

Frontier Group (NASDAQ:ULCC) had its target price cut by Susquehanna from $9.00 to $3.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

ULCC has been the subject of a number of other reports. Bank of America reduced their target price on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Citigroup reaffirmed a “neutral” rating and set a $7.25 target price on shares of Frontier Group in a research report on Thursday, March 20th. Barclays increased their price target on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Finally, UBS Group decreased their target price on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.92.

Frontier Group Stock Performance

Shares of NASDAQ ULCC opened at $3.58 on Monday. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $6.65. The firm has a market cap of $813.55 million, a P/E ratio of 9.94 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) 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%. Research analysts forecast that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barry Biffle sold 273,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the completion of the transaction, the chief executive officer now directly owns 816,817 shares in the company, valued at $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 535,982 shares of company stock worth $4,515,647. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Several large investors have recently made changes to their positions in ULCC. R Squared Ltd acquired a new stake in Frontier Group in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Frontier Group in the 4th quarter valued at $50,000. Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after buying an additional 8,507 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new position in Frontier Group during the third quarter valued at about $71,000.

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.