Frontier Group (NASDAQ:ULCC) Price Target Lowered to $3.50 at UBS Group

Key Points

• UBS Group has lowered its price target for Frontier Group (NASDAQ:ULCC) from $4.00 to $3.50, indicating a potential upside of 10.58% from the previous close.
• Frontier Group's stock was down 8.3% during trading, hitting $3.17, with a market capitalization of $720.86 million.
• The company reported a quarterly loss of ($0.31) EPS, falling short of analysts' expectations, and its revenue was down 4.5% year-over-year.

Frontier Group (NASDAQ:ULCC - Get Free Report) had its target price dropped by analysts at UBS Group from $4.00 to $3.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 3.40% from the company's previous close.

ULCC has been the topic of several other research reports. Citigroup lowered their target price on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Morgan Stanley dropped their price objective on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Barclays reduced their target price on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America dropped their price target on Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Finally, Evercore ISI reduced their price objective on 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. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $5.61.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC traded up $0.07 during mid-day trading on Wednesday, reaching $3.39. 2,011,828 shares of the company traded hands, compared to its average volume of 3,670,704. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45. Frontier Group has a 52 week low of $2.79 and a 52 week high of $10.26. The company's 50 day moving average price is $3.94 and its 200-day moving average price is $5.01. The firm has a market cap of $770.98 million, a PE ratio of -21.03 and a beta of 2.62.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Frontier Group had a negative net margin of 0.87% and a negative return on equity of 12.19%. The business had revenue of $929.00 million during the quarter, compared to analysts' expectations of $951.92 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Frontier Group's revenue was down 4.5% on a year-over-year basis. On average, equities analysts expect that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Alexandre Clerc sold 12,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.89, for a total transaction of $46,680.00. Following the transaction, the senior vice president directly owned 11,912 shares in the company, valued at approximately $46,337.68. The trade was a 50.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 48.00% of the company's stock.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Frontier Group by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company's stock valued at $217,000 after acquiring an additional 2,296 shares during the period. Voleon Capital Management LP boosted its stake in shares of Frontier Group by 9.4% in the first quarter. Voleon Capital Management LP now owns 38,692 shares of the company's stock valued at $168,000 after purchasing an additional 3,335 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Frontier Group by 8.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company's stock valued at $536,000 after purchasing an additional 5,834 shares in the last quarter. AQR Capital Management LLC increased its stake in Frontier Group by 46.0% during the 1st quarter. AQR Capital Management LLC now owns 18,777 shares of the company's stock worth $81,000 after buying an additional 5,913 shares during the period. Finally, CWM LLC lifted its holdings in Frontier Group by 165.0% during the 2nd quarter. CWM LLC now owns 10,042 shares of the company's stock worth $36,000 after buying an additional 6,253 shares in 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.