Frontier Group (NASDAQ:ULCC) PT Lowered to $16.00

Posted by on Aug 6th, 2023

Frontier Group (NASDAQ:ULCC – Get Free Report) had its price target dropped by Citigroup from $19.00 to $16.00 in a research note issued to investors on Friday, FlyOnTheWall reports. Citigroup’s target price indicates a potential upside of 97.78% from the stock’s current price.

Several other research firms have also recently issued reports on ULCC. Susquehanna cut shares of Frontier Group from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $12.00 to $10.00 in a research note on Thursday, May 4th. Barclays lowered their price objective on shares of Frontier Group from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday. 500.com restated a “downgrade” rating on shares of Frontier Group in a research report on Monday, May 8th. Raymond James reduced their target price on shares of Frontier Group from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Bank of America reduced their target price on shares of Frontier Group from $13.00 to $12.00 in a report on Monday, June 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Frontier Group has a consensus rating of “Moderate Buy” and an average target price of $15.18.

Frontier Group Stock Down 2.2 %

Frontier Group stock opened at $8.09 on Friday. Frontier Group has a twelve month low of $7.61 and a twelve month high of $15.25. The firm has a 50 day moving average price of $9.43 and a 200-day moving average price of $9.91. The company has a market capitalization of $1.77 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.15 and a beta of 2.02. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.40.

Frontier Group (NASDAQ:ULCC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $966.73 million. Frontier Group had a net margin of 3.56% and a return on equity of 25.80%. Frontier Group’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. As a group, equities analysts predict that Frontier Group will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 58,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $8.05, for a total value of $466,900.00. Following the sale, the chief executive officer now owns 401,184 shares of the company’s stock, valued at approximately $3,229,531.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Barry Biffle sold 58,000 shares of Frontier Group stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $8.05, for a total transaction of $466,900.00. Following the sale, the chief executive officer now owns 401,184 shares of the company’s stock, valued at approximately $3,229,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Howard Diamond sold 70,000 shares of Frontier Group stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $8.04, for a total transaction of $562,800.00. Following the sale, the senior vice president now directly owns 175,403 shares in the company, valued at approximately $1,410,240.12. The disclosure for this sale can be found here. Insiders have sold a total of 722,090 shares of company stock valued at $6,037,693 in the last quarter. Insiders own 83.20% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of large investors have recently modified their holdings of ULCC. PDT Partners LLC lifted its position in Frontier Group by 3.3% during the 2nd quarter. PDT Partners LLC now owns 32,693 shares of the company’s stock valued at $306,000 after acquiring an additional 1,059 shares during the period. Royal Bank of Canada lifted its position in Frontier Group by 45.7% during the 3rd quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock valued at $32,000 after acquiring an additional 1,062 shares during the period. Credit Suisse AG raised its holdings in Frontier Group by 4.5% in the fourth quarter. Credit Suisse AG now owns 29,047 shares of the company’s stock worth $298,000 after buying an additional 1,264 shares during the last quarter. Rhumbline Advisers raised its holdings in Frontier Group by 2.9% in the first quarter. Rhumbline Advisers now owns 49,698 shares of the company’s stock worth $489,000 after buying an additional 1,383 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Frontier Group by 9.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,222 shares of the company’s stock worth $167,000 after buying an additional 1,407 shares during the last quarter. Institutional investors own 99.17% of the company’s stock.

Frontier Group Company Profile

(Get Free Report)

Frontier Group Holdings, Inc, a low-fare airline company, provides air transportation for passengers in United States and international destinations in the Americas. It offers its services through direct distribution channels, including its website, mobile app, and call center. Frontier Group Holdings, Inc was incorporated in 2013 and is headquartered in Denver, Colorado.

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Analyst Recommendations for Frontier Group (NASDAQ:ULCC)

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