Frontier Group (NASDAQ:ULCC) Stock Price Expected to Rise, Barclays Analyst Says

Frontier Group (NASDAQ:ULCC) had its target price increased by Barclays from $7.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 47.49% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Citigroup increased their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Bank of America decreased their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. TD Cowen boosted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Finally, Evercore ISI raised their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.52.

Frontier Group Trading Up 3.5 %

ULCC traded up $0.23 during trading hours on Thursday, reaching $6.78. The company’s stock had a trading volume of 1,247,394 shares, compared to its average volume of 2,095,438. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The business’s 50-day moving average is $5.55 and its 200-day moving average is $4.95. The stock has a market cap of $1.53 billion, a PE ratio of -169.96 and a beta of 2.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

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 business had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, equities research analysts predict that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Frontier Group during the second quarter worth approximately $45,000. nVerses Capital LLC increased its holdings in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Frontier Group in the 3rd quarter worth $54,000. Ballentine Partners LLC purchased a new stake in Frontier Group during the third quarter valued at about $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group during the second quarter valued at about $58,000.

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.