Evercore ISI Has Lowered Expectations for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC) had its target price dropped by analysts at Evercore ISI from $7.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price indicates a potential upside of 62.07% from the company’s current price.

Other research analysts also recently issued reports about the company. Citigroup reaffirmed a “neutral” rating and set a $7.25 price objective on shares of Frontier Group in a research report on Thursday, March 20th. Barclays dropped their target price on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. UBS Group dropped their price target on shares of Frontier Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Bank of America decreased their target price 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 analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.47.

Frontier Group Stock Down 13.6 %

Frontier Group stock traded down $0.49 during trading hours on Friday, hitting $3.09. The stock had a trading volume of 3,528,260 shares, compared to its average volume of 2,414,708. The stock’s 50-day moving average price is $6.43 and its 200-day moving average price is $6.59. The stock has a market capitalization of $701.06 million, a P/E ratio of 8.54 and a beta of 2.52. Frontier Group has a 12-month low of $2.79 and a 12-month high of $10.26. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share 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%. Equities research analysts anticipate that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Howard Diamond sold 87,830 shares of the business’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 sale, the executive vice president now directly owns 175,886 shares in the company, valued at $1,542,520.22. The trade was a 33.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the 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 completion of the transaction, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,982 shares of company stock worth $4,515,647. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Frontier Group by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company’s stock worth $217,000 after purchasing an additional 2,296 shares during the period. Rhumbline Advisers boosted its stake in Frontier Group by 4.4% during the fourth quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock worth $394,000 after buying an additional 2,334 shares during the period. R Squared Ltd purchased a new position in Frontier Group during the fourth quarter worth $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Frontier Group by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock valued at $536,000 after acquiring an additional 5,834 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Frontier Group in the fourth quarter valued at $50,000.

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.