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

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares hit a new 52-week high during mid-day trading 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.

A number of other brokerages also recently issued reports on ULCC. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Bank of America dropped their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Morgan Stanley dropped their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Evercore ISI raised their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus target price of $6.96.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.88, for a total value of $1,260,800.00. Following the sale, the chief executive officer now directly owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This represents a 13.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the sale, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 355,000 shares of company stock valued at $2,569,150 in the last quarter. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new stake in shares of Frontier Group during the 3rd quarter worth about $54,000. Ballentine Partners LLC acquired a new stake in Frontier Group during the third quarter worth approximately $55,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Frontier Group during the second quarter worth approximately $58,000. Blue Trust Inc. lifted its position in shares of Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after buying an additional 3,744 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after buying an additional 8,507 shares in the last quarter.

Frontier Group Price Performance

The stock’s 50-day moving average is $6.44 and its 200 day moving average is $5.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a market capitalization of $1.84 billion, a PE ratio of -203.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) EPS. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

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.