Frontier Group (NASDAQ:ULCC) Given New $10.00 Price Target at Morgan Stanley

Frontier Group (NASDAQ:ULCC) had its price target increased by equities researchers at Morgan Stanley from $7.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 25.20% from the stock’s current price.

ULCC has been the topic of a number of other research reports. Barclays increased their target price on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. UBS Group raised their target price on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Susquehanna upped their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.74.

Frontier Group Trading Up 0.6 %

NASDAQ ULCC opened at $7.99 on Monday. The stock’s 50 day moving average is $8.03 and its 200 day moving average is $6.18. Frontier Group has a twelve month low of $2.79 and a twelve month high of $10.26. The firm has a market capitalization of $1.82 billion, a PE ratio of 22.11 and a beta of 2.35. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Research analysts forecast that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 788,000 shares of company stock worth $6,214,070. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Frontier Group by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company’s stock valued at $217,000 after buying an additional 2,296 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Frontier Group by 4.4% in the fourth quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock valued at $394,000 after buying an additional 2,334 shares in the last quarter. Blue Trust Inc. boosted its position in Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after purchasing an additional 3,744 shares in the last quarter. R Squared Ltd purchased a new position in shares of Frontier Group during the 4th quarter worth approximately $32,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Frontier Group by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock valued at $536,000 after acquiring an additional 5,834 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.