Frontier Group (NASDAQ:ULCC) Trading 8.4% Higher - Here's Why

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) were up 8.4% during mid-day trading on Tuesday . The stock traded as high as $3.88 and last traded at $3.94. Approximately 1,926,585 shares changed hands during trading, a decline of 35% from the average daily volume of 2,947,370 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ULCC shares. UBS Group lowered their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. 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 note on Friday, April 11th. Morgan Stanley lowered their target price on shares of 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. Susquehanna lowered their target price on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Citigroup decreased their price target on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have given 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 a consensus rating of "Hold" and an average price target of $5.67.

Frontier Group Price Performance

The stock's fifty day moving average price is $3.74 and its 200-day moving average price is $5.60. The firm has a market cap of $942.95 million, a price-to-earnings ratio of 14.28 and a beta of 2.60. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.48.

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

Insider Activity

In other 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 transaction of $46,680.00. Following the completion of the sale, the senior vice president owned 11,912 shares in the company, valued at $46,337.68. This trade represents a 50.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 48.00% of the stock is owned by corporate insiders.

Institutional Trading of Frontier Group

Institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in Frontier Group in the 4th quarter valued at approximately $50,000. Byrne Asset Management LLC acquired a new stake in Frontier Group in the 1st quarter valued at approximately $35,000. ProShare Advisors LLC acquired a new stake in Frontier Group in the 4th quarter valued at approximately $84,000. Aigen Investment Management LP acquired a new stake in Frontier Group in the 4th quarter valued at approximately $96,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Frontier Group in the 4th quarter valued at approximately $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.