Barclays Issues Pessimistic Forecast for Frontier Group (NASDAQ:ULCC) Stock Price

Frontier Group (NASDAQ:ULCC - Free Report) had its price objective lowered by Barclays from $14.00 to $10.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

ULCC has been the topic of several other research reports. UBS Group cut their target price on Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft cut shares of Frontier Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Bank of America dropped their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley upped their target price on Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Finally, Susquehanna dropped their price target on Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Group currently has an average rating of "Hold" and a consensus target price of $6.11.

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Frontier Group Stock Down 5.6 %

Shares of NASDAQ:ULCC traded down $0.20 during trading on Tuesday, reaching $3.37. 10,107,589 shares of the stock were exchanged, compared to its average volume of 2,443,882. The stock has a fifty day moving average of $6.33 and a two-hundred day moving average of $6.58. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market cap of $765.83 million, a price-to-earnings ratio of 9.36 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Research analysts anticipate that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, EVP Howard Diamond sold 87,830 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the transaction, the executive vice president now directly owns 175,886 shares of the company's stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 535,982 shares of company stock worth $4,515,647 over the last quarter. Corporate insiders own 81.50% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock valued at $58,207,000 after purchasing an additional 26,682 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Frontier Group by 31.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock worth $17,042,000 after buying an additional 578,151 shares in the last quarter. Towle & Co. increased its stake in Frontier Group by 6.1% in the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company's stock worth $16,701,000 after acquiring an additional 134,723 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Frontier Group by 835.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock valued at $12,101,000 after acquiring an additional 1,520,094 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Frontier Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company's stock valued at $11,564,000 after acquiring an additional 35,355 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.