Brokerages Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) Price Target at $7.78

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has earned an average rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.28.

ULCC has been the subject of a number of research reports. UBS Group began coverage on shares of Frontier Group in a report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price objective (down previously from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Evercore ISI lifted their target price on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Barclays increased their price target on Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Bank of America restated a “neutral” rating and set a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th.

Frontier Group Price Performance

Shares of ULCC stock opened at $5.76 on Tuesday. The firm has a fifty day moving average of $7.08 and a two-hundred day moving average of $5.72. The firm has a market cap of $1.29 billion, a P/E ratio of -48.00 and a beta of 2.63. Frontier Group has a 1-year low of $3.19 and a 1-year high of $10.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The firm had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. Frontier Group had a positive return on equity of 3.53% and a negative net margin of 0.67%. Frontier Group’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, research analysts anticipate that Frontier Group will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the sale, the chief executive officer now directly owns 772,981 shares in the company, valued at approximately $5,967,413.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently modified their holdings of the company. Signaturefd LLC bought a new position in Frontier Group during the third quarter valued at about $28,000. PNC Financial Services Group Inc. boosted its position in shares of Frontier Group by 632.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after purchasing an additional 4,980 shares in the last quarter. CWM LLC boosted its position in shares of Frontier Group by 1,705.7% during the 3rd quarter. CWM LLC now owns 6,627 shares of the company’s stock valued at $32,000 after purchasing an additional 6,260 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Frontier Group in the 3rd quarter worth approximately $58,000. Finally, Private Advisor Group LLC bought a new stake in shares of Frontier Group in the 4th quarter worth approximately $59,000.

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.