Frontier Group (NASDAQ:ULCC) Given New $7.00 Price Target at Barclays

Frontier Group (NASDAQ:ULCC) had its price objective raised by investment analysts at Barclays from $6.00 to $7.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.11% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Bank of America lowered their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Susquehanna raised their price target on shares of Frontier Group from $3.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.12.

Frontier Group Stock Performance

Shares of ULCC traded up $0.08 during trading hours on Wednesday, hitting $6.30. The company had a trading volume of 1,198,534 shares, compared to its average volume of 2,096,429. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -157.75 and a beta of 2.55. The business has a fifty day moving average of $4.94 and a 200-day moving average of $4.97. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share 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. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) earnings per share. Equities analysts anticipate that Frontier Group will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently made changes to their positions in ULCC. Price T Rowe Associates Inc. MD boosted its position in Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after buying an additional 2,746 shares during the period. Arizona State Retirement System lifted its position in shares of 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 purchasing an additional 3,521 shares during the period. Rhumbline Advisers increased its stake in shares of Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after acquiring an additional 3,543 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Frontier Group by 41.2% in the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Frontier Group by 10.6% in the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after acquiring an additional 3,936 shares in 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.