Analysts Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) Price Target at $7.78

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.28.

Several research firms recently weighed in on ULCC. Barclays increased their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price target (down previously from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Susquehanna upped their price objective on Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. TD Cowen cut their target price on Frontier Group from $8.00 to $6.50 and set a “hold” rating on the stock in a research note on Friday. Finally, Bank of America restated a “neutral” rating and set a $6.00 price target (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th.

Frontier Group Trading Up 5.9 %

Shares of ULCC opened at $6.10 on Tuesday. Frontier Group has a 52 week low of $3.19 and a 52 week high of $10.57. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $7.08 and a 200-day moving average of $5.73.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.53%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts expect that Frontier Group will post 0.42 EPS for the current year.

Insider Buying and Selling

In other news, CEO Barry Biffle sold 14,500 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $7.21, for a total value of $104,545.00. Following the sale, the chief executive officer now owns 63,949 shares of the company’s stock, valued at approximately $461,072.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

Institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Frontier Group by 1,705.7% in the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after buying an additional 6,260 shares during the period. Olympiad Research LP lifted its position in shares of Frontier Group by 385.1% in the 3rd quarter. Olympiad Research LP now owns 66,184 shares of the company’s stock valued at $320,000 after acquiring an additional 52,540 shares in the last quarter. Duality Advisers LP acquired a new position in Frontier Group in the 3rd quarter worth approximately $120,000. Signaturefd LLC purchased a new position in Frontier Group during the 3rd quarter worth approximately $28,000. Finally, NBC Securities Inc. acquired a new stake in Frontier Group during the 3rd quarter valued at $58,000.

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.