Evercore ISI Has Lowered Expectations for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC - Free Report) had its price target trimmed by Evercore ISI from $7.00 to $5.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other research analysts also recently weighed in on the company. UBS Group cut their price target on Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Bank of America decreased their price target on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Susquehanna cut their price objective on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Morgan Stanley upped their price target on shares of Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Monday, February 24th. Finally, Citigroup restated a "neutral" rating and set a $7.25 price objective on shares of Frontier Group in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.11.

Frontier Group Price Performance

ULCC stock traded down $0.11 on Friday, reaching $3.07. The company had a trading volume of 2,173,203 shares, compared to its average volume of 2,473,989. The company's fifty day moving average is $6.14 and its 200 day moving average is $6.56. The company has a market cap of $697.65 million, a P/E ratio of 8.53 and a beta of 2.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates 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 forecast that Frontier Group will post 0.91 earnings per share for the current year.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares of the company's stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,982 shares of company stock valued at $3,174,847. Corporate insiders own 81.50% of the company's stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new stake in Frontier Group in the fourth quarter valued at about $32,000. KLP Kapitalforvaltning AS bought a new position in Frontier Group during the fourth quarter worth $50,000. Nisa Investment Advisors LLC increased its stake in Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Frontier Group during the fourth quarter worth $84,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Frontier Group in the 4th quarter valued at about $96,000.

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.