Frontier Group (NASDAQ:ULCC) Stock Price Target Raised at UBS Group

Frontier Group (NASDAQ:ULCC) had its target price lifted by analysts at UBS Group from $6.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price target would suggest a potential upside of 8.53% from the stock’s current price.

Other analysts also recently issued research reports about the company. Barclays lowered their target price on Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. Zacks Research cut Frontier Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday. Finally, Susquehanna boosted their price target on Frontier Group from $6.00 to $6.50 and gave the stock a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $6.50.

Frontier Group Price Performance

Frontier Group stock opened at $6.45 on Friday. The company has a market cap of $1.49 billion, a P/E ratio of -3.60 and a beta of 2.70. Frontier Group has a 1-year low of $3.02 and a 1-year high of $8.40. The company has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $5.43. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 10.68.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.24. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 52.9% on a year-over-year basis. Research analysts anticipate that Frontier Group will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other news, SVP Alexandre Clerc sold 3,068 shares of Frontier Group stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $8.17, for a total transaction of $25,065.56. Following the completion of the transaction, the senior vice president directly owned 37,488 shares in the company, valued at approximately $306,276.96. The trade was a 7.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mitchell sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $8.09, for a total value of $1,011,250.00. Following the transaction, the chief financial officer directly owned 53,785 shares in the company, valued at $435,120.65. The trade was a 69.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 332,520 shares of company stock worth $2,660,029 in the last three months. 48.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of ULCC. Signaturefd LLC lifted its stake in shares of Frontier Group by 81.7% during the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock worth $36,000 after buying an additional 2,707 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Frontier Group by 3.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,787 shares of the company’s stock valued at $734,000 after buying an additional 3,461 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Frontier Group in the 2nd quarter valued at about $28,000. Allworth Financial LP bought a new position in Frontier Group in the 2nd quarter valued at about $43,000. Finally, Legal & General Group Plc bought a new position in Frontier Group in the 2nd quarter valued at about $46,000.

About Frontier Group

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.