Frontier Group (NASDAQ:ULCC) Shares Gap Up – Still a Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.77, but opened at $6.42. Frontier Group shares last traded at $6.37, with a volume of 1,124,026 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ULCC shares. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. TD Cowen lifted their target price on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Bank of America dropped their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Evercore ISI upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Citigroup upped their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.22.

Frontier Group Stock Performance

The company’s 50 day moving average is $5.19 and its 200 day moving average is $4.94. The firm has a market cap of $1.46 billion, a P/E ratio of -161.46 and a beta of 2.51. 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 (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 company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) EPS. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at approximately $204,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 81.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ULCC. Norden Group LLC bought a new position in shares of Frontier Group during the 1st quarter worth approximately $293,000. Capstone Investment Advisors LLC bought a new position in Frontier Group during the first quarter valued at approximately $350,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Frontier Group during the first quarter valued at approximately $494,000. Russell Investments Group Ltd. boosted its stake in shares of Frontier Group by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock valued at $8,956,000 after purchasing an additional 109,418 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in Frontier Group by 23.3% in the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock worth $204,000 after acquiring an additional 4,756 shares during the period.

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.