Frontier Group (NASDAQ:ULCC) Reaches New 52-Week High on Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price hit a new 52-week high during trading on Tuesday after Susquehanna raised their price target on the stock from $6.00 to $8.00. Susquehanna currently has a neutral rating on the stock. Frontier Group traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares traded. The stock had previously closed at $7.11.

A number of other equities analysts have also recently commented on ULCC. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. TD Cowen lifted their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Barclays boosted their target price on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Morgan Stanley reduced their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Bank of America reduced their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Group has a consensus rating of “Hold” and an average price target of $6.96.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Josh T. Connor sold 30,000 shares of the company’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 in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Frontier Group by 38.4% in 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. Algert Global LLC boosted its holdings in Frontier Group by 80.2% in the third quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after acquiring an additional 200,885 shares in the last quarter. Creative Planning boosted its holdings in Frontier Group by 81.0% in the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after acquiring an additional 104,707 shares in the last quarter. U S Global Investors Inc. boosted its holdings in Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after acquiring an additional 3,150,768 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Frontier Group in the third quarter worth $54,000.

Frontier Group Stock Down 1.9 %

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $6.44 and a 200 day simple moving average of $5.18. The firm has a market capitalization of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same quarter last year, the business earned ($0.14) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

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.