Frontier Group (NASDAQ:ULCC) Price Target Raised to $8.00 at Susquehanna

Frontier Group (NASDAQ:ULCC) had its target price upped by Susquehanna from $6.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on ULCC. UBS Group lifted their price objective on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI lifted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and increased their price target for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Bank of America reduced their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, TD Cowen raised their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

Frontier Group Price Performance

NASDAQ ULCC opened at $8.32 on Tuesday. 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 has a 12 month low of $2.79 and a 12 month high of $8.41. The company’s 50 day moving average is $6.41 and its two-hundred day moving average is $5.16. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -207.95 and a beta of 2.32.

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

Insider Buying and Selling at Frontier Group

In related news, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now directly owns 47,590 shares in the company, valued at $336,461.30. The trade was a 9.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.88, for a total value of $1,260,800.00. Following the transaction, the chief executive officer now directly owns 1,024,817 shares in the company, 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. In the last quarter, insiders have sold 355,000 shares of company stock valued at $2,569,150. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

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