Frontier Group (NASDAQ:ULCC) Price Target Cut to $4.00 by Analysts at UBS Group

Frontier Group (NASDAQ:ULCC) had its price objective decreased by UBS Group from $7.00 to $4.00 in a report published on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Citigroup restated a “neutral” rating and issued a $7.25 price target on shares of Frontier Group in a research report on Thursday, March 20th. Morgan Stanley raised their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Susquehanna lowered their price target on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Bank of America reduced their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.47.

Frontier Group Stock Up 23.6 %

Shares of ULCC opened at $4.08 on Monday. The business’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $6.60. The firm has a market capitalization of $927.17 million, a price-to-earnings ratio of 11.33 and a beta of 2.52. Frontier Group has a 52 week low of $2.79 and a 52 week high of $10.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

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

Insider Activity

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the transaction, the executive vice president now owns 175,886 shares of the company’s stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,982 shares of company stock worth $4,515,647 over the last quarter. 81.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. Intech Investment Management LLC acquired a new stake in Frontier Group in the third quarter valued at $72,000. Charles Schwab Investment Management Inc. lifted its stake in Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after purchasing an additional 269,221 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after purchasing an additional 8,507 shares during the period. IHT Wealth Management LLC acquired a new position in Frontier Group during the third quarter worth approximately $71,000. Finally, Point72 Asset Management L.P. bought a new stake in Frontier Group in the third quarter valued at approximately $188,000.

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.