Frontier Group (NASDAQ:ULCC) Given New $8.00 Price Target at Susquehanna

Frontier Group (NASDAQ:ULCC - Free Report) had its price objective boosted by Susquehanna from $6.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Bank of America dropped their target price on Frontier Group from $5.50 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, September 13th. Morgan Stanley cut their price objective on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Evercore ISI increased their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an "in-line" rating in a research note on Thursday, October 3rd. UBS Group upped their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Citigroup raised their price objective on Frontier Group from $4.70 to $7.15 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Frontier Group presently has a consensus rating of "Hold" and a consensus target price of $6.96.

Frontier Group Stock Up 4.1 %

Shares of Frontier Group stock traded up $0.33 during midday trading on Tuesday, hitting $8.32. The company's stock had a trading volume of 3,172,422 shares, compared to its average volume of 3,506,030. The firm has a market capitalization of $1.88 billion, a P/E ratio of -207.95 and a beta of 2.32. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.41. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $6.36 and a 200-day simple moving average of $5.14.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted 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 firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period last year, the business earned ($0.14) earnings per share. Frontier Group's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that Frontier Group will post 0.05 earnings per share for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the sale, the senior vice president now directly owns 47,590 shares of the company's stock, valued at $336,461.30. This represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction 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 completion of the sale, the director now directly owns 326,550 shares of the company's stock, valued at $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 355,000 shares of company stock worth $2,569,150. Corporate insiders own 81.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock valued at $77,000 after buying an additional 3,521 shares during the period. Rhumbline Advisers grew its stake in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company's stock valued at $789,000 after acquiring an additional 3,543 shares during the period. Blue Trust Inc. increased its holdings in shares of Frontier Group by 41.2% in the third 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. XTX Topco Ltd raised its position in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company's stock worth $203,000 after purchasing an additional 3,936 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company's stock valued at $98,000 after purchasing an additional 4,279 shares in 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.