Susquehanna Forecasts Strong Price Appreciation for Frontier Group (NASDAQ:ULCC) Stock

by · The Markets Daily

Frontier Group (NASDAQ:ULCC – Get Free Report) had its target price raised by stock analysts at Susquehanna from $6.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target would suggest a potential downside of 1.60% from the company’s current price.

A number of other equities analysts also recently commented on the company. TD Cowen upped their target price on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. UBS Group boosted their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup upped their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Finally, Bank of America reduced their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.96.

Read Our Latest Research Report on ULCC

Frontier Group Trading Up 1.8 %

Frontier Group stock traded up $0.14 during trading hours on Tuesday, reaching $8.13. The stock had a trading volume of 537,140 shares, compared to its average volume of 2,814,070. The stock has a market cap of $1.83 billion, a PE ratio of -203.20 and a beta of 2.32. The company has a fifty day simple moving average of $6.36 and a 200-day simple moving average of $5.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.41.

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 company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. Analysts forecast that Frontier Group will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction 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 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, CEO Barry Biffle sold 160,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,000 shares of company stock worth $1,308,350. Corporate insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULCC. Victory Capital Management Inc. purchased a new position in shares of Frontier Group during the 3rd quarter worth about $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group during the third quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group during the second quarter valued at approximately $58,000. Blue Trust Inc. grew its stake in shares of Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 during the period.

Frontier Group Company Profile

(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.

Featured Articles