Frontier Group (NASDAQ:ULCC) Hits New 52-Week High – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price reached a new 52-week high on Monday. The stock traded as high as $8.52 and last traded at $8.4750, with a volume of 2,939,916 shares trading hands. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ULCC shares. Susquehanna raised their target price on Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a report on Wednesday, October 28th. Barclays cut their target price on Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Frontier Group from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $7.07.

Frontier Group Price Performance

The firm has a market capitalization of $1.92 billion, a PE ratio of -4.67 and a beta of 2.71. The business has a 50-day moving average of $5.84 and a 200 day moving average of $5.48. 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) last posted its earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.24. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The business’s revenue was up 52.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) EPS. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Steve Schuller sold 7,500 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $6.00, for a total transaction of $45,000.00. Following the transaction, the senior vice president directly owned 79,675 shares in the company, valued at approximately $478,050. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently modified their holdings of ULCC. Commonwealth Equity Services LLC increased its position in shares of Frontier Group by 2.1% during the third quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the company’s stock valued at $439,000 after acquiring an additional 1,498 shares during the last quarter. Signaturefd LLC increased its position in shares of Frontier Group by 81.7% during the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock valued at $36,000 after purchasing an additional 2,707 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Frontier Group by 3.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,787 shares of the company’s stock worth $734,000 after purchasing an additional 3,461 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Frontier Group in the 2nd quarter worth about $28,000. Finally, Allworth Financial LP purchased a new position in shares of Frontier Group in the 2nd quarter worth about $43,000.

Frontier Group Company Profile

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.