Frontier Group (NASDAQ:ULCC) Stock Price Target Raised at UBS Group

Frontier Group (NASDAQ:ULCC) had its price target boosted by UBS Group from $6.00 to $7.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on ULCC. Susquehanna lifted their price target on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday. Barclays decreased their target price on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, September 11th. Zacks Research lowered Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6.50.

Frontier Group Stock Performance

NASDAQ ULCC opened at $6.45 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 10.68. The firm has a 50-day moving average price of $5.72 and a 200 day moving average price of $5.43. Frontier Group has a 52-week low of $3.02 and a 52-week high of $8.40. The stock has a market capitalization of $1.49 billion, a P/E ratio of -3.60 and a beta of 2.70.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The firm’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period last year, the company posted ($0.34) earnings per share. Equities research analysts expect that Frontier Group will post -0.39 EPS for the current year.

Insider Buying and Selling

In related news, EVP Howard Diamond sold 24,195 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $8.25, for a total value of $199,608.75. Following the completion of the sale, the executive vice president directly owned 133,126 shares in the company, valued at approximately $1,098,289.50. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Trevor J. Stedke sold 167,277 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $8.03, for a total value of $1,343,234.31. The SEC filing for this sale provides additional information. Insiders have sold 332,520 shares of company stock valued at $2,660,029 in the last three months. Insiders own 48.00% of the company’s stock.

Institutional Trading of Frontier Group

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Frontier Group during the 2nd quarter worth $888,000. U S Global Investors Inc. raised its holdings in shares of Frontier Group by 63.9% in the 1st quarter. U S Global Investors Inc. now owns 6,781,412 shares of the company’s stock valued at $23,938,000 after purchasing an additional 2,643,448 shares during the period. GSA Capital Partners LLP acquired a new stake in Frontier Group in the 2nd quarter valued at about $4,373,000. BlackRock Inc. acquired a new stake in Frontier Group in the 2nd quarter valued at about $47,205,000. Finally, PDT Partners LLC bought a new position in Frontier Group during the second quarter worth about $1,586,000.

About Frontier Group

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.