Bank of America Issues Pessimistic Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC - Get Free Report) had its price target reduced by equities research analysts at Bank of America from $4.75 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's target price indicates a potential downside of 3.38% from the company's previous close.

Other research analysts also recently issued reports about the stock. Susquehanna cut their price objective on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Barclays reduced their price target on Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased 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. Finally, Citigroup cut their target price on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Frontier Group currently has an average rating of "Hold" and an average price target of $5.67.

Frontier Group Stock Performance

Shares of NASDAQ ULCC traded up $0.13 during trading on Tuesday, reaching $4.14. 2,434,713 shares of the stock traded hands, compared to its average volume of 2,978,949. Frontier Group has a 52-week low of $2.79 and a 52-week high of $10.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45. The company has a 50-day moving average of $3.74 and a 200-day moving average of $5.60. The stock has a market capitalization of $942.95 million, a P/E ratio of 14.28 and a beta of 2.60.

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

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $3.89, for a total value of $46,680.00. Following the transaction, the senior vice president directly owned 11,912 shares in the company, valued at $46,337.68. This represents a 50.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ULCC. Byrne Asset Management LLC bought a new stake in Frontier Group during the first quarter valued at approximately $35,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group during the 4th quarter worth $50,000. Victory Capital Management Inc. bought a new stake in shares of Frontier Group during the 1st quarter worth $76,000. Kapitalo Investimentos Ltda purchased a new position in Frontier Group in the first quarter worth $77,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Frontier Group by 71.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,061 shares of the company's stock valued at $78,000 after acquiring an additional 7,546 shares during the last quarter.

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.