Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives $6.00 Average PT from Brokerages

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) have received a consensus recommendation of "Hold" from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $6.00.

Several analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Frontier Group from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Citigroup decreased their price objective on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Evercore ISI decreased their target price on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Susquehanna decreased their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Barclays decreased their price objective on Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th.

Frontier Group Price Performance

NASDAQ:ULCC traded down $0.15 during trading hours on Wednesday, reaching $3.81. 3,056,051 shares of the company were exchanged, compared to its average volume of 2,784,851. The business has a 50 day moving average of $3.67 and a 200 day moving average of $5.92. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The company has a market capitalization of $867.78 million, a P/E ratio of 10.58 and a beta of 2.67.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $912.00 million for the quarter, compared to analyst estimates of $996.05 million. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Frontier Group's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS. Research analysts forecast that Frontier Group will post 0.91 EPS for the current year.

Insider Transactions at Frontier Group

In related news, SVP Alexandre Clerc sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the sale, the senior vice president now owns 11,912 shares in the company, valued at approximately $46,337.68. This trade represents a 50.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 48.00% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock valued at $58,207,000 after acquiring an additional 26,682 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Frontier Group by 31.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock valued at $17,042,000 after purchasing an additional 578,151 shares during the period. Towle & Co. grew its stake in shares of Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company's stock valued at $16,701,000 after purchasing an additional 134,723 shares during the period. Voloridge Investment Management LLC increased its position in shares of Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock valued at $12,101,000 after purchasing an additional 1,520,094 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Frontier Group by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company's stock worth $11,564,000 after purchasing an additional 35,355 shares during the period.

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.