Citigroup Reiterates Neutral Rating for Frontier Group (NASDAQ:ULCC)

Frontier Group (NASDAQ:ULCC)‘s stock had its “neutral” rating reissued by Citigroup in a research note issued on Thursday,Benzinga reports. They presently have a $7.25 price target on the stock. Citigroup’s price objective suggests a potential upside of 21.64% from the company’s current price.

A number of other analysts have also recently weighed in on ULCC. Morgan Stanley raised their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Barclays raised their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Susquehanna raised their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, UBS Group lifted their target price on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.75.

Frontier Group Price Performance

Shares of NASDAQ:ULCC opened at $5.96 on Thursday. The firm’s 50 day moving average is $7.84 and its two-hundred day moving average is $6.57. Frontier Group has a 52 week low of $2.79 and a 52 week high of $10.26. The firm has a market capitalization of $1.35 billion, a P/E ratio of 16.56 and a beta of 2.37. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Analysts anticipate that Frontier Group will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barry Biffle sold 273,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the sale, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 860,982 shares of company stock valued at $6,912,597. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Large investors have recently bought and sold shares of the company. R Squared Ltd bought a new stake in Frontier Group in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group during the fourth quarter worth $50,000. Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group during the third quarter worth $54,000. Finally, ProShare Advisors LLC acquired a new stake in Frontier Group in the fourth quarter valued at $84,000.

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.