Frontier Group (NASDAQ:ULCC) Price Target Raised to $14.00

Frontier Group (NASDAQ:ULCC) had its target price increased by equities research analysts at Barclays from $10.00 to $14.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 49.89% from the company’s previous close.

A number of other brokerages have also issued reports on ULCC. Susquehanna increased their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. UBS Group increased their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Citigroup increased their price target on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley dropped their price objective on 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. One equities 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.41.

Frontier Group Price Performance

NASDAQ ULCC opened at $9.34 on Monday. Frontier Group has a 52 week low of $2.79 and a 52 week high of $9.67. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -233.44 and a beta of 2.35. The company has a 50-day moving average price of $7.45 and a two-hundred day moving average price of $5.80. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly 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. Analysts forecast that Frontier Group will post 0.12 EPS for the current year.

Insider Activity

In other news, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the company’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 transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 788,000 shares of company stock valued at $6,214,070 over the last three months. Insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Algert Global LLC grew its stake in Frontier Group by 80.2% during the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after acquiring an additional 200,885 shares in the last quarter. Creative Planning increased its holdings in shares of Frontier Group by 81.0% in the 3rd quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after purchasing an additional 104,707 shares during the period. U S Global Investors Inc. lifted its position in shares of Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Frontier Group during the third quarter worth approximately $54,000.

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.