Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) traded up 15.6% during trading on Monday . The stock traded as high as $8.28 and last traded at $8.22. 961,967 shares changed hands during trading, a decline of 55% from the average session volume of 2,160,440 shares. The stock had previously closed at $7.11.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ULCC. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Citigroup boosted their price target on Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered 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 report on Wednesday, December 11th. Susquehanna lifted their target price on Frontier Group from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, UBS Group started coverage on shares of Frontier Group in a research note on Tuesday, November 26th. They set a "neutral" rating and a $6.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $6.46.
Get Our Latest Research Report on Frontier Group
Frontier Group Stock Performance
The stock has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $5.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a market cap of $1.80 billion, a P/E ratio of -199.70 and a beta of 2.32.
Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its 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 business had revenue of $935.00 million for the quarter, compared to analysts' expectations of $943.30 million. During the same quarter last year, the firm earned ($0.14) earnings per share. Frontier Group's revenue was up 5.9% on a year-over-year basis. Research analysts forecast that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.
Insider Activity at Frontier Group
In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 784,817 shares of the company's stock, valued at $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,000 shares of company stock valued at $1,308,350. 81.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Frontier Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Frontier Group in the 3rd quarter worth $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group in the third quarter worth $55,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group in the 2nd quarter worth $58,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company's stock worth $64,000 after buying an additional 8,507 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Frontier Group by 41.2% during the 3rd 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.
Frontier Group Company Profile
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Get Free Report)
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.
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