Barclays Forecasts Strong Price Appreciation for Frontier Group (NASDAQ:ULCC) Stock

Frontier Group (NASDAQ:ULCC) had its price target raised by Barclays from $7.00 to $10.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on ULCC. Deutsche Bank Aktiengesellschaft decreased their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Bank of America reduced their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. TD Cowen increased their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Finally, Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.52.

Frontier Group Stock Up 1.0 %

Shares of ULCC opened at $6.80 on Thursday. The firm has a market cap of $1.53 billion, a P/E ratio of -169.96 and a beta of 2.51. The stock has a 50 day simple moving average of $5.67 and a two-hundred day simple moving average of $4.96. 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 has a 1 year low of $2.79 and a 1 year high of $8.33.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) earnings per share. On average, analysts forecast that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new stake in Frontier Group during the 2nd quarter valued at approximately $45,000. nVerses Capital LLC increased its stake in Frontier Group by 152.5% in the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after acquiring an additional 6,100 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Frontier Group in the 3rd quarter worth approximately $54,000. Ballentine Partners LLC bought a new stake in Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group in the 2nd quarter worth approximately $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.