Frontier Group (NASDAQ:ULCC) Shares Gap Up – What’s Next?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped up prior to trading on Thursday . The stock had previously closed at $6.01, but opened at $6.25. Frontier Group shares last traded at $6.00, with a volume of 139,634 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup increased their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Bank of America cut their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.32.

Frontier Group Stock Performance

The firm has a market capitalization of $1.37 billion, a P/E ratio of -151.46 and a beta of 2.43. The company has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $4.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Frontier Group Holdings, Inc. will post 0.04 EPS for the current year.

Insider Transactions at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ULCC. Price T Rowe Associates Inc. MD increased its position in Frontier Group by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after acquiring an additional 2,746 shares during the last quarter. Arizona State Retirement System increased its position in shares of Frontier Group by 29.0% during the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares during the last quarter. Rhumbline Advisers increased its position in shares of Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Blue Trust Inc. lifted 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 worth $63,000 after purchasing an additional 3,744 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Frontier Group by 10.6% in the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after buying an additional 3,936 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.