Frontier Group (NASDAQ:ULCC) Price Target Cut to $5.00 by Analysts at Evercore ISI

Frontier Group (NASDAQ:ULCC - Free Report) had its target price reduced by Evercore ISI from $7.00 to $5.00 in a research report report published on Friday morning,Benzinga reports. They currently have an in-line rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup restated a "neutral" rating and set a $7.25 price objective on shares of Frontier Group in a research report on Thursday, March 20th. Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. UBS Group decreased 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. Susquehanna reduced their price objective on Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Bank of America dropped their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Frontier Group currently has an average rating of "Hold" and an average target price of $6.11.

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Frontier Group Stock Performance

NASDAQ ULCC traded up $0.02 on Friday, hitting $3.18. 4,701,321 shares of the company's stock traded hands, compared to its average volume of 2,470,009. The firm's 50-day moving average price is $6.24 and its two-hundred day moving average price is $6.58. The firm has a market capitalization of $722.65 million, a PE ratio of 8.83 and a beta of 2.52. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, analysts expect that Frontier Group will post 0.91 EPS for the current year.

Insider Transactions at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the transaction, the senior vice president now owns 23,912 shares of the company's stock, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares of the company's stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 535,982 shares of company stock worth $4,515,647. Insiders own 81.50% of the company's stock.

Institutional Investors Weigh In On Frontier Group

Several institutional investors have recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Frontier Group during the 4th quarter worth $32,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Frontier Group during the fourth quarter worth about $50,000. Nisa Investment Advisors LLC raised its holdings in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after acquiring an additional 7,380 shares during the last quarter. ProShare Advisors LLC purchased a new position in Frontier Group during the fourth quarter worth about $84,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Frontier Group during the 4th quarter worth about $96,000.

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.