UBS Group Begins Coverage on Frontier Group (NASDAQ:ULCC)

UBS Group started coverage on shares of Frontier Group (NASDAQ:ULCC - Get Free Report) in a report released on Tuesday. The firm set a "neutral" rating and a $6.00 price target on the stock. UBS Group's price target points to a potential upside of 7.72% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Citigroup raised their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Bank of America cut their price target on shares of Frontier Group from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. Barclays increased their price objective on Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. TD Cowen lifted their target price on Frontier Group from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. downgraded Frontier Group from a "neutral" rating to an "underweight" rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.32.

Frontier Group Price Performance

NASDAQ ULCC traded down $0.18 on Tuesday, hitting $5.57. 3,278,911 shares of the company's stock were exchanged, compared to its average volume of 2,138,525. The stock has a 50-day moving average of $5.84 and a 200-day moving average of $4.94. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -139.22 and a beta of 2.51. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.33. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Analysts expect that Frontier Group will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 81.50% of the company's stock.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ULCC. Vanguard Group Inc. grew its position in Frontier Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company's stock worth $33,384,000 after buying an additional 60,943 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company's stock valued at $211,000 after acquiring an additional 2,746 shares during the last quarter. Boston Partners grew its holdings in shares of Frontier Group by 176.6% during the first quarter. Boston Partners now owns 1,053,270 shares of the company's stock worth $8,518,000 after purchasing an additional 672,471 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Frontier Group by 17.6% in the second quarter. Simplicity Wealth LLC now owns 29,532 shares of the company's stock worth $146,000 after purchasing an additional 4,428 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Frontier Group in the second quarter valued at approximately $659,000.

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.