Frontier Group (NASDAQ:ULCC) Price Target Lowered to $4.00 at Bank of America

Frontier Group (NASDAQ:ULCC - Get Free Report) had its price target dropped by Bank of America from $4.75 to $4.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price indicates a potential upside of 2.30% from the stock's current price.

ULCC has been the topic of a number of other reports. Barclays lowered their price target on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lowered their target price on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price target on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, UBS Group reduced their price objective on Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Frontier Group presently has an average rating of "Hold" and an average price target of $5.67.

Frontier Group Stock Performance

ULCC traded up $0.28 during trading on Tuesday, reaching $3.91. The company's stock had a trading volume of 4,982,521 shares, compared to its average volume of 2,963,261. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.45 and a current ratio of 0.49. The company's fifty day moving average price is $3.71 and its 200-day moving average price is $5.63. Frontier Group has a 52-week low of $2.79 and a 52-week high of $10.26. The company has a market capitalization of $890.54 million, a price-to-earnings ratio of 13.48 and a beta of 2.60.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a return on equity of 5.53% and a net margin of 1.78%. The firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.89, for a total transaction of $46,680.00. Following the sale, the senior vice president owned 11,912 shares in the company, valued at approximately $46,337.68. This represents a 50.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 48.00% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC acquired a new position in shares of Frontier Group in the first quarter valued at approximately $35,000. KLP Kapitalforvaltning AS purchased a new stake in Frontier Group in the 4th quarter worth approximately $50,000. Victory Capital Management Inc. acquired a new position in Frontier Group in the 1st quarter valued at $76,000. Kapitalo Investimentos Ltda acquired a new position in Frontier Group in the 1st quarter valued at $77,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Frontier Group by 71.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,061 shares of the company's stock worth $78,000 after purchasing an additional 7,546 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.