Frontier Group (NASDAQ:ULCC) Trading 15.6% Higher – Still a Buy?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded up 15.6% during mid-day trading on Monday . The company traded as high as $8.28 and last traded at $8.22. 961,967 shares were traded during trading, a decline of 55% from the average session volume of 2,160,440 shares. The stock had previously closed at $7.11.

Analysts Set New Price Targets

ULCC has been the topic of several research analyst reports. Evercore ISI upped their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Morgan Stanley cut their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Susquehanna lifted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Finally, TD Cowen raised their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Frontier Group presently has a consensus rating of “Hold” and an average target price of $6.96.

Frontier Group Trading Down 1.9 %

The stock has a market capitalization of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32. The stock’s 50 day moving average price is $6.41 and its 200-day moving average price is $5.16. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $943.30 million. During the same period in the prior year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the sale, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the sale, the senior vice president now owns 47,590 shares in the company, valued at $336,461.30. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 355,000 shares of company stock valued at $2,569,150 over the last quarter. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently made changes to their positions in ULCC. Arizona State Retirement System increased its stake in shares of Frontier Group by 29.0% in the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after acquiring an additional 3,521 shares during the period. Rhumbline Advisers boosted its holdings in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Blue Trust Inc. grew its position in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after purchasing an additional 3,744 shares during the period. XTX Topco Ltd raised its stake in shares of Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after buying an additional 3,936 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after buying an additional 4,279 shares during the period.

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.