Frontier Group (NASDAQ:ULCC) Price Target Raised to $7.00

Frontier Group (NASDAQ:ULCC) had its price objective raised by UBS Group from $6.00 to $7.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a report on Wednesday. Susquehanna upped their price objective on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Thursday. Barclays cut their target price on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, September 11th. Finally, Zacks Research lowered shares of Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Frontier Group presently has an average rating of “Reduce” and an average price target of $6.50.

Frontier Group Price Performance

Shares of Frontier Group stock opened at $6.45 on Friday. The stock has a 50-day moving average price of $5.72 and a 200 day moving average price of $5.43. The company has a market cap of $1.49 billion, a P/E ratio of -3.60 and a beta of 2.70. 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 has a 1 year low of $3.02 and a 1 year high of $8.40.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.24. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. The business’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. As a group, analysts expect that Frontier Group will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In related news, CFO Mark Mitchell sold 125,000 shares of the 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 owned 53,785 shares in the company, valued at approximately $435,120.65. This represents a 69.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Alexandre Clerc sold 3,068 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $8.17, for a total transaction of $25,065.56. Following 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 disclosure for this sale is available in the SEC filing. Insiders sold 332,520 shares of company stock worth $2,660,029 over the last quarter. Insiders own 48.00% of the company’s stock.

Institutional Trading of Frontier Group

Several large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Frontier Group during the 2nd quarter worth $28,000. Atlas Wealth LLC acquired a new stake in shares of Frontier Group in the 1st quarter valued at $33,000. Signaturefd LLC lifted its stake in shares of Frontier Group by 81.7% in the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock valued at $36,000 after purchasing an additional 2,707 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Frontier Group in the 2nd quarter valued at $43,000. Finally, Legal & General Group Plc bought a new stake in Frontier Group in the second quarter worth $46,000.

Frontier Group Company Profile

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.