Frontier Group (NASDAQ:ULCC) Price Target Raised to $7.00 at Barclays

Frontier Group (NASDAQ:ULCC) had its price objective increased by Barclays from $6.00 to $7.00 in a research note published on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also recently commented on ULCC. Evercore ISI lifted their target price on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna lifted their target price on shares of Frontier Group from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen lifted their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus target price of $6.12.

Frontier Group Trading Up 0.4 %

Shares of ULCC opened at $6.25 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $4.99 and a 200-day simple moving average of $4.98. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -156.13 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share 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 analysts’ expectations of $943.30 million. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned ($0.14) earnings per share. Equities analysts forecast that Frontier Group will post 0.06 EPS for the current fiscal year.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. U S Global Investors Inc. lifted its holdings in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares in the last quarter. AlTi Global Inc. acquired a new position in Frontier Group in the 2nd quarter worth $21,222,000. Vanguard Group Inc. lifted its holdings in Frontier Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after buying an additional 60,943 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after buying an additional 109,418 shares in the last quarter. Finally, Boston Partners lifted its holdings in Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after buying an additional 672,471 shares in the last quarter.

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.