Frontier Group (NASDAQ:ULCC) Stock Gets Price Target Boost from UBS Group

Frontier Group (NASDAQ:ULCC – Get Free Report) had its target price increased by investment analysts at UBS Group from $6.00 to $7.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price target points to a potential upside of 8.53% from the company’s previous close.

Several other research firms have also recently commented on ULCC. Barclays lowered their target price on Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday. Zacks Research lowered Frontier Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Susquehanna boosted their price target on Frontier Group from $6.00 to $6.50 and gave the stock a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $6.50.

View Our Latest Research Report on Frontier Group

Frontier Group Price Performance

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

Frontier Group (NASDAQ:ULCC – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. The business’s revenue for the quarter was up 52.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) earnings per share. Analysts anticipate that Frontier Group will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark Mitchell sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $8.09, for a total transaction of $1,011,250.00. Following the completion of the transaction, the chief financial officer owned 53,785 shares in the company, valued at approximately $435,120.65. This trade represents a 69.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Steve Schuller sold 7,500 shares of Frontier Group stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $6.00, for a total transaction of $45,000.00. Following the completion of the transaction, the senior vice president directly owned 79,675 shares in the company, valued at $478,050. This represents a 8.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 332,520 shares of company stock worth $2,660,029 in the last ninety days. Insiders own 48.00% of the company’s stock.

Institutional Trading of Frontier Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Frontier Group during the second quarter worth approximately $47,205,000. U S Global Investors Inc. grew its position in Frontier Group by 63.9% in the first quarter. U S Global Investors Inc. now owns 6,781,412 shares of the company’s stock worth $23,938,000 after buying an additional 2,643,448 shares during the last quarter. Silver Point Capital L.P. bought a new position in shares of Frontier Group in the second quarter valued at $12,141,850. Bank of America Corp DE bought a new position in shares of Frontier Group in the second quarter valued at $7,337,000. Finally, GSA Capital Partners LLP bought a new position in shares of Frontier Group in the second quarter valued at $4,373,000.

About Frontier Group

(Get Free Report)

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.

See Also

Analyst Recommendations for Frontier Group (NASDAQ:ULCC)

Receive News & Ratings for Frontier Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Group and related companies with MarketBeat.com's FREE daily email newsletter.