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

Frontier Group (NASDAQ:ULCC) had its price target cut by analysts at Susquehanna from $9.00 to $3.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target points to a potential downside of 15.66% from the company’s previous close.

Several other analysts also recently weighed in on the company. Morgan Stanley raised their target price on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Bank of America reduced their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. UBS Group dropped their target price on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Frontier Group has a consensus rating of “Hold” and a consensus target price of $7.25.

Frontier Group Stock Up 2.8 %

Shares of NASDAQ:ULCC traded up $0.10 during mid-day trading on Monday, hitting $3.56. 1,457,589 shares of the company traded hands, compared to its average volume of 2,337,074. The firm’s 50 day simple moving average is $6.98 and its 200 day simple moving average is $6.65. The firm has a market cap of $808.32 million, a P/E ratio of 10.03 and a beta of 2.52. 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 52-week low of $2.79 and a 52-week high of $10.26.

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

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Barry Biffle sold 273,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the transaction, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. This trade represents a 25.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,982 shares of company stock worth $4,515,647. 81.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. R Squared Ltd bought a new stake in Frontier Group during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group during the fourth quarter valued at about $50,000. Nisa Investment Advisors LLC lifted 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after buying an additional 8,507 shares in the last quarter. Finally, IHT Wealth Management LLC acquired a new position in Frontier Group during the 3rd quarter valued at about $71,000.

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.