Frontier Group (NASDAQ:ULCC) Sets New 1-Year High - Still a Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares trading hands. The stock had previously closed at $7.11.

Analysts Set New Price Targets

A number of research firms have recently commented on ULCC. UBS Group increased their target price on Frontier Group from $6.00 to $8.50 and gave the company a "neutral" rating in a research report on Tuesday. Susquehanna increased their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. TD Cowen increased their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a "hold" rating in a report on Monday, September 16th. Finally, Raymond James raised Frontier Group from an "underperform" rating to a "market perform" rating in a research note on Monday, September 30th. One equities 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 company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.96.

Frontier Group Stock Up 4.1 %

The business's 50-day moving average is $6.41 and its 200-day moving average is $5.16. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -207.95 and a beta of 2.32. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) earnings per share. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In related news, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the sale, the senior vice president now directly owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the stock in a transaction that occurred 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 directly owns 326,550 shares of the company's stock, valued at $1,874,397. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 355,000 shares of company stock valued at $2,569,150. Company insiders own 81.50% of the company's stock.

Institutional Trading of Frontier Group

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new stake in shares of Frontier Group in the third quarter valued at about $54,000. Ballentine Partners LLC purchased a new stake in shares of Frontier Group in the 3rd quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group during the 2nd quarter worth approximately $58,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company's stock valued at $64,000 after buying an additional 8,507 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company's stock valued at $63,000 after acquiring an additional 3,744 shares during the last quarter.

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.