Frontier Group (NASDAQ:ULCC) Price Target Lowered to $7.00 at UBS Group

Frontier Group (NASDAQ:ULCC) had its target price lowered by research analysts at UBS Group from $10.00 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 22.98% from the stock’s current price.

ULCC has been the topic of a number of other research reports. Citigroup restated a “neutral” rating and issued a $7.25 target price on shares of Frontier Group in a research note on Thursday. Barclays boosted their target price on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. 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 research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, Morgan Stanley boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.58.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC traded down $0.27 during trading on Thursday, reaching $5.69. The stock had a trading volume of 359,425 shares, compared to its average volume of 2,191,664. Frontier Group has a 52 week low of $2.79 and a 52 week high of $10.26. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.81 and a beta of 2.37. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $6.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, analysts anticipate that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now directly owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 owns 1,024,817 shares of the company’s stock, valued at $8,075,557.96. The trade was a 13.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of Frontier Group in the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new position in shares of Frontier Group in the 4th quarter valued at approximately $50,000. Victory Capital Management Inc. acquired a new position in shares of Frontier Group in the 3rd quarter valued at approximately $54,000. Nisa Investment Advisors LLC grew its position in shares of Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $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.