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

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

ULCC has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Citigroup lifted their target price on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Susquehanna increased their price target on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen lifted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Frontier Group presently has a consensus rating of “Hold” and an average target price of $6.52.

Frontier Group Price Performance

NASDAQ:ULCC opened at $6.80 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a 12-month low of $2.79 and a 12-month high of $8.33. The stock’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $4.96.

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 analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) EPS. On average, equities analysts predict that Frontier Group will post 0.04 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the senior vice president now owns 34,035 shares in the company, valued at $204,210. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 81.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. U S Global Investors Inc. raised its stake 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 worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. AlTi Global Inc. acquired a new position in Frontier Group during the second quarter worth $21,222,000. Vanguard Group Inc. increased its holdings in Frontier Group by 1.5% during the first 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 during the last quarter. Geode Capital Management LLC raised its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after acquiring an additional 441,001 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Frontier Group by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock valued at $8,956,000 after acquiring an additional 109,418 shares during 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.