Frontier Group (NASDAQ:ULCC) Hits New 52-Week High After Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC) hit a new 52-week high on Tuesday after Susquehanna raised their price target on the stock from $6.00 to $8.00. Susquehanna currently has a neutral rating on the stock. Frontier Group traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares changing hands. The stock had previously closed at $7.11.

Other research analysts have also recently issued research reports about the company. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. UBS Group lifted their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday. Barclays increased their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, TD Cowen increased their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.96.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 355,000 shares of company stock valued at $2,569,150. Company insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. U S Global Investors Inc. boosted its position in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. AlTi Global Inc. bought a new stake in shares of Frontier Group during the 2nd quarter valued at about $21,222,000. Geode Capital Management LLC boosted its position in shares of Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Verition Fund Management LLC lifted its position in Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after buying an additional 453,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $3,205,000 after buying an additional 269,221 shares during the last quarter.

Frontier Group Stock Down 1.9 %

The stock has a 50-day moving average of $6.44 and a two-hundred day moving average of $5.18. The company has a market cap of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32. 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 company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) EPS. On average, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

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.