Frontier Group Holdings, Inc. (NASDAQ:ULCC) Given Average Recommendation of “Hold” by Analysts

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has received an average rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.96.

Several brokerages have issued reports on ULCC. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. Evercore ISI boosted their price target on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna increased their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Finally, TD Cowen increased their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th.

Frontier Group Stock Up 0.5 %

Frontier Group stock opened at $8.20 on Friday. The stock has a 50-day simple moving average of $6.53 and a 200-day simple moving average of $5.23. The company has a market capitalization of $1.85 billion, a P/E ratio of -204.95 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. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.41.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. Equities research analysts expect that Frontier Group will post 0.05 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In related news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $7.88, for a total value of $1,260,800.00. Following the sale, the chief executive officer now owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This represents a 13.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 355,000 shares of company stock valued at $2,569,150. Corporate insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Frontier Group by 24.3% during the second quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock worth $643,000 after buying an additional 25,523 shares in the last quarter. Rhumbline Advisers grew its stake in Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after acquiring an additional 3,543 shares during the period. Arizona State Retirement System raised its holdings in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after acquiring an additional 3,521 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Frontier Group during the 2nd quarter worth $415,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Frontier Group by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 309,282 shares of the company’s stock worth $1,524,000 after purchasing an additional 21,829 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.