Frontier Group (NASDAQ:ULCC) Price Target Cut to $7.00 by Analysts at Morgan Stanley

Frontier Group (NASDAQ:ULCC - Get Free Report) had its price objective cut by research analysts at Morgan Stanley from $8.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 1.60% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Bank of America dropped their target price on shares of Frontier Group from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Friday, September 13th. TD Cowen upped their target price on Frontier Group from $3.00 to $4.00 and gave the stock a "hold" rating in a research note on Monday, September 16th. Barclays lifted their price target on Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. UBS Group assumed coverage on Frontier Group in a research report on Tuesday, November 26th. They set a "neutral" rating and a $6.00 price objective for the company. Finally, Raymond James raised Frontier Group from an "underperform" rating to a "market perform" rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.62.

Frontier Group Price Performance

Shares of ULCC stock traded up $0.88 during trading on Wednesday, hitting $6.89. The company had a trading volume of 5,094,676 shares, compared to its average volume of 2,151,725. The firm has a market capitalization of $1.55 billion, a P/E ratio of -160.00 and a beta of 2.43. Frontier Group has a one year low of $2.79 and a one year high of $8.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock's 50-day moving average price is $6.10 and its 200 day moving average price is $4.93.

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

Insider Buying and Selling

In related news, SVP Steve Schuller sold 10,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company's stock, valued at $1,874,397. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in Frontier Group in the second quarter valued at approximately $45,000. nVerses Capital LLC increased its stake in shares of Frontier Group by 152.5% in the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company's stock valued at $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Frontier Group during the 3rd quarter valued at $54,000. Ballentine Partners LLC bought a new position in Frontier Group during the third quarter worth $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Frontier Group in the second quarter worth $58,000.

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.