Frontier Group (NASDAQ:ULCC) Given New $7.00 Price Target at Bank of America

Frontier Group (NASDAQ:ULCC - Free Report) had its target price decreased by Bank of America from $10.00 to $7.00 in a research note issued to investors on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages also recently commented on ULCC. Morgan Stanley boosted their target price 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. Susquehanna upped their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. UBS Group dropped their price objective on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft cut shares of Frontier Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, Citigroup reiterated a "neutral" rating and issued a $7.25 price target on shares of Frontier Group in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.92.

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Frontier Group Price Performance

Shares of Frontier Group stock traded down $0.14 on Thursday, reaching $3.44. 2,038,136 shares of the stock were exchanged, compared to its average volume of 2,354,792. The firm's 50 day moving average is $6.89 and its 200-day moving average is $6.65. The firm has a market cap of $780.82 million, a PE ratio of 9.60 and a beta of 2.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group has a one year low of $2.79 and a one year high of $10.26.

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, 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 anticipate that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the completion of the transaction, the chief executive officer now owns 864,817 shares in the company, valued at $7,247,166.46. This trade represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 535,982 shares of company stock valued at $4,515,647 in the last three months. Insiders own 81.50% of the company's stock.

Institutional Trading of Frontier Group

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Frontier Group by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company's stock valued at $217,000 after purchasing an additional 2,296 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock worth $394,000 after acquiring an additional 2,334 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Frontier Group in the 4th quarter worth about $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Frontier Group by 8.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company's stock valued at $536,000 after acquiring an additional 5,834 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Frontier Group during the 4th quarter valued at about $50,000.

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.