Frontier Group (NASDAQ:ULCC) Trading Down 6.4%

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares traded down 6.4% on Tuesday . The company traded as low as $5.68 and last traded at $5.71. 906,187 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,179,603 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group initiated coverage on shares of Frontier Group in a research note on Wednesday, March 20th. They issued a "neutral" rating and a $8.00 target price on the stock. Susquehanna increased their price objective on Frontier Group from $5.00 to $7.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Evercore ISI increased their price objective on Frontier Group from $7.00 to $8.50 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Barclays increased their price objective on Frontier Group from $7.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, TD Cowen reduced their price objective on Frontier Group from $8.00 to $6.50 and set a "hold" rating on the stock in a research report on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Frontier Group presently has a consensus rating of "Hold" and an average price target of $7.28.

Frontier Group Trading Down 7.4 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50. The company has a market cap of $1.27 billion, a P/E ratio of -47.92 and a beta of 2.63. The stock has a 50-day moving average of $6.79 and a two-hundred day moving average of $5.91.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.09. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The company had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. During the same quarter last year, the company earned ($0.06) EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Frontier Group Holdings, Inc. will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total value of $1,170,506.40. Following the completion of the sale, the chief executive officer now owns 772,981 shares of the company's stock, valued at approximately $5,967,413.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 81.50% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently bought and sold shares of ULCC. PNC Financial Services Group Inc. lifted its position in shares of Frontier Group by 632.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company's stock worth $28,000 after buying an additional 4,980 shares in the last quarter. Signaturefd LLC bought a new stake in Frontier Group during the third quarter worth approximately $28,000. Private Advisor Group LLC bought a new stake in Frontier Group during the fourth quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Frontier Group by 200.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company's stock worth $64,000 after acquiring an additional 7,782 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Frontier Group during the third quarter worth approximately $58,000.

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.

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