Frontier Group (NASDAQ:ULCC) Given New $10.00 Price Target at Morgan Stanley

Frontier Group (NASDAQ:ULCC) had its price objective raised by research analysts at Morgan Stanley from $7.00 to $10.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 25.20% from the company’s previous close.

A number of other research analysts have also recently issued reports on ULCC. Barclays lifted their target price on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. UBS Group raised their price target 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. Susquehanna increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Frontier Group presently has a consensus rating of “Hold” and an average price target of $7.74.

Frontier Group Trading Up 0.6 %

NASDAQ ULCC opened at $7.99 on Monday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 22.11 and a beta of 2.35. The firm’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $6.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a twelve month low of $2.79 and a twelve month high of $10.26.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities analysts anticipate that Frontier Group will post 0.91 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other news, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Biffle sold 273,000 shares of Frontier Group stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.44, for a total value 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 approximately $6,893,935.48. This represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 788,000 shares of company stock valued at $6,214,070 in the last quarter. Company insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Frontier Group in the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Frontier Group in the fourth quarter worth about $50,000. Nisa Investment Advisors LLC boosted its position in shares of Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after acquiring an additional 7,380 shares during the period. Victory Capital Management Inc. purchased a new position in Frontier Group during the third quarter valued at approximately $54,000. Finally, Ballentine Partners LLC bought a new stake in Frontier Group during the 3rd quarter worth approximately $55,000.

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.