Frontier Group (NASDAQ:ULCC) Hits New 52-Week High – Time to Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares hit a new 52-week high on Wednesday . The stock traded as high as $8.42 and last traded at $8.42, with a volume of 266531 shares. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

ULCC has been the topic of a number of research reports. UBS Group boosted their price objective on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Citigroup boosted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays raised 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. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $6.66 and a two-hundred day simple moving average of $5.30.

Frontier Group (NASDAQ:ULCC) last released 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 business had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. As a group, research analysts expect that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 5,000 shares of the 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $7.88, for a total transaction of $1,260,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,817 shares of the company’s stock, valued at $8,075,557.96. This represents a 13.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 355,000 shares of company stock valued at $2,569,150 over the last 90 days. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in Frontier Group during the 3rd quarter valued at approximately $54,000. Ballentine Partners LLC purchased a new stake in Frontier Group in the third quarter worth $55,000. Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group in the second quarter valued at $58,000. Blue Trust Inc. increased its position in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after purchasing an additional 8,507 shares during the period.

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.