Analysts Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) PT at $6.46

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) have been given an average recommendation of "Hold" by the eleven ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.46.

Several equities research analysts have issued reports on ULCC shares. Citigroup raised their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Morgan Stanley decreased their target price on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Evercore ISI boosted their price target on Frontier Group from $4.00 to $5.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. Susquehanna raised their price objective on Frontier Group from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, TD Cowen lifted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a "hold" rating in a research report on Monday, September 16th.

Frontier Group Price Performance

ULCC stock traded down $0.12 on Friday, reaching $7.11. The company had a trading volume of 3,191,361 shares, compared to its average volume of 2,991,381. The company's fifty day moving average is $6.35 and its 200 day moving average is $5.12. The company has a market cap of $1.60 billion, a P/E ratio of -177.71 and a beta of 2.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a 1 year low of $2.79 and a 1 year high of $8.33.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The firm's revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. On average, research analysts forecast that Frontier Group will post 0.05 earnings per share for the current year.

Insider Transactions at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now owns 326,550 shares of the company's stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Barry Biffle sold 160,000 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the sale, the chief executive officer now directly owns 784,817 shares of the company's stock, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 81.50% of the company's stock.

Institutional Investors Weigh In On Frontier Group

A number of large investors have recently modified their holdings of ULCC. Victory Capital Management Inc. purchased a new stake in Frontier Group during the 3rd quarter worth $54,000. Ballentine Partners LLC acquired a new stake in shares of Frontier Group during the third quarter valued at about $55,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Frontier Group during the second quarter worth about $58,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company's stock worth $64,000 after acquiring an additional 8,507 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company's stock worth $63,000 after acquiring an additional 3,744 shares in the last quarter.

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.