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

Citigroup reiterated their neutral rating on shares of Frontier Group (NASDAQ:ULCC) in a report issued on Thursday morning, Marketbeat.com reports. The firm currently has a $7.25 target price on the stock.

ULCC has been the topic of several other research reports. UBS Group upped their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their price target on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Morgan Stanley upped their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Finally, Susquehanna upped their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One investment 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.58.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC opened at $5.47 on Thursday. The business’s fifty day moving average price is $7.73 and its two-hundred day moving average price is $6.60. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $10.26. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 15.19 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, analysts predict that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the transaction, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 860,982 shares of company stock worth $6,912,597. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after purchasing an additional 441,001 shares during the period. Algert Global LLC increased its position in Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after buying an additional 200,885 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Frontier Group in the 3rd quarter valued at about $54,000. Barclays PLC increased its position in Frontier Group by 378.6% in the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after buying an additional 57,642 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after buying an additional 7,380 shares in the last quarter.

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.