Frontier Group (NASDAQ:ULCC) Reaches New 1-Year High – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $8.42 and last traded at $8.42, with a volume of 266531 shares. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ULCC. Evercore ISI raised their price objective on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna raised their target price on 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 upgraded Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. 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 note on Thursday, November 14th. Finally, UBS Group increased their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

Frontier Group Trading Down 0.7 %

The business’s 50-day moving average is $6.63 and its two-hundred day moving average is $5.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market cap of $1.86 billion, a P/E ratio of -206.70 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts predict that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other Frontier Group news, SVP Steve Schuller sold 5,000 shares of the firm’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 owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now directly owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 355,000 shares of company stock valued at $2,569,150 over the last three months. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Frontier Group in the 3rd quarter worth about $54,000. Ballentine Partners LLC acquired a new stake in Frontier Group during the third quarter worth approximately $55,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Frontier Group during the 2nd quarter valued at $58,000. Blue Trust Inc. boosted its position in shares of Frontier Group by 41.2% during 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after acquiring an additional 8,507 shares in the last quarter.

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.