Frontier Group (NASDAQ:ULCC) Given New $4.00 Price Target at UBS Group

Frontier Group (NASDAQ:ULCC) had its target price cut by equities research analysts at UBS Group from $7.00 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 10.68% from the company’s current price.

ULCC has been the topic of several other reports. Citigroup reiterated a “neutral” rating and set a $7.25 target price on shares of Frontier Group in a report on Thursday, March 20th. Bank of America cut their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley lifted their price target on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Barclays raised their price objective on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Susquehanna reduced their target price on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus price target of $6.92.

Frontier Group Trading Up 4.5 %

Shares of NASDAQ:ULCC traded up $0.15 during trading on Monday, reaching $3.61. 3,497,747 shares of the company were exchanged, compared to its average volume of 2,345,794. The business’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $6.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group has a 12-month low of $2.79 and a 12-month high of $10.26. The firm has a market capitalization of $821.27 million, a PE ratio of 10.07 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. On average, research analysts anticipate that Frontier Group will post 0.91 EPS for the current year.

Insider Activity at Frontier Group

In related news, EVP Howard Diamond sold 87,830 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the transaction, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This represents a 33.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the sale, the chief executive officer now directly owns 864,817 shares of the company’s stock, valued at approximately $7,247,166.46. This represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,982 shares of company stock valued at $4,515,647 in the last three months. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ULCC. Voloridge Investment Management LLC increased its holdings in Frontier Group by 835.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after buying an additional 1,520,094 shares during the period. Highland Peak Capital LLC purchased a new position in shares of Frontier Group during the fourth quarter worth $6,492,000. Two Sigma Investments LP lifted its position in Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company’s stock valued at $6,971,000 after purchasing an additional 813,929 shares during the period. Empyrean Capital Partners LP purchased a new stake in Frontier Group in the fourth quarter valued at $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Frontier Group by 247.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock valued at $6,585,000 after purchasing an additional 659,811 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.