Citigroup Raises Frontier Group (NASDAQ:ULCC) Price Target to $7.15

Frontier Group (NASDAQ:ULCC) had its target price raised by research analysts at Citigroup from $4.70 to $7.15 in a report released on Tuesday, Briefing.com reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 3.47% from the stock’s previous close.

ULCC has been the subject of several other research reports. Evercore ISI increased their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Barclays dropped their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. TD Cowen upped their price objective on shares of 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 analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.02.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $6.91 on Tuesday. The firm’s fifty day simple moving average is $4.52 and its 200 day simple moving average is $4.98. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -23.83 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Frontier Group will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 81.50% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Group

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in shares of Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after buying an additional 672,471 shares during the period. AlTi Global Inc. acquired a new position in Frontier Group in the second quarter valued at approximately $21,222,000. Bleakley Financial Group LLC grew its holdings in shares of Frontier Group by 23.3% during the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock valued at $204,000 after purchasing an additional 4,756 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Frontier Group during the 1st quarter worth approximately $293,000. Finally, Algert Global LLC lifted its holdings in shares of Frontier Group by 119.0% in the 2nd quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after purchasing an additional 136,159 shares during 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.