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

Frontier Group (NASDAQ:ULCC) had its price objective trimmed by Citigroup from $7.25 to $4.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Evercore ISI cut their target price on Frontier Group from $7.00 to $5.00 and set an “in-line” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. UBS Group decreased their target price on shares of Frontier Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Susquehanna cut their price target on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Bank of America decreased their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus price target of $6.11.

Frontier Group Stock Performance

Shares of ULCC opened at $3.37 on Friday. The stock has a market capitalization of $765.83 million, a P/E ratio of 9.36 and a beta of 2.52. 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 has a 1 year low of $2.79 and a 1 year high of $10.26. The company’s fifty day moving average is $6.33 and its two-hundred day moving average is $6.58.

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, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, sell-side analysts predict that Frontier Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In other news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the sale, the chief executive officer now directly owns 864,817 shares in the company, valued at $7,247,166.46. This represents a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares of the company’s stock, valued at approximately $1,542,520.22. This represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 535,982 shares of company stock worth $4,515,647. 81.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 269,221 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Frontier Group during the third quarter worth $188,000. Barclays PLC grew its position in shares of Frontier Group by 378.6% in the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the period. Geode Capital Management LLC increased its stake in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Frontier Group during the third quarter worth about $145,000.

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.