Morgan Stanley Forecasts Strong Price Appreciation for Frontier Group (NASDAQ:ULCC) Stock

Frontier Group (NASDAQ:ULCC - Get Free Report) had its target price increased by equities research analysts at Morgan Stanley from $7.00 to $10.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 35.14% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Susquehanna raised their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. UBS Group lifted their target price on Frontier Group from $6.00 to $8.50 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Barclays increased their price target on Frontier Group from $10.00 to $14.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.74.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC traded down $0.13 during trading on Monday, hitting $7.40. 2,960,409 shares of the company traded hands, compared to its average volume of 2,945,171. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.56 and a beta of 2.34. Frontier Group has a one year low of $2.79 and a one year high of $10.26. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The business's fifty day moving average is $8.10 and its 200-day moving average is $6.25.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its earnings results 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 return on equity of 9.83% and a net margin of 2.25%. As a group, equities analysts predict that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 175,886 shares of the company's stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now directly owns 326,550 shares of the company's stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 875,830 shares of company stock worth $6,984,339 over the last 90 days. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently added to or reduced their stakes in the company. Voloridge Investment Management LLC increased its position in shares of Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock worth $12,101,000 after purchasing an additional 1,520,094 shares in the last quarter. Highland Peak Capital LLC bought a new stake in Frontier Group during the fourth quarter worth about $6,492,000. Two Sigma Investments LP increased its holdings in shares of Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock worth $6,971,000 after buying an additional 813,929 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Frontier Group during the fourth quarter worth approximately $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Frontier Group by 247.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company's stock valued at $6,585,000 after acquiring an additional 659,811 shares during 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.