Frontier Group (NASDAQ:ULCC) Given New $7.00 Price Target at Morgan Stanley

Frontier Group (NASDAQ:ULCC) had its price target lowered by Morgan Stanley from $8.00 to $7.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on ULCC. Bank of America decreased their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Citigroup boosted their price target on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI raised their price objective 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. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, UBS Group started coverage on shares of Frontier Group in a report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Group has an average rating of “Hold” and an average price target of $6.62.

Frontier Group Price Performance

Shares of ULCC opened at $6.89 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The company’s fifty day moving average price is $6.14 and its 200-day moving average price is $4.95. The firm has a market capitalization of $1.55 billion, a PE ratio of -172.25 and a beta of 2.43. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Tuesday, October 29th. The company reported ($0.05) 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 analysts’ expectations of $943.30 million. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned ($0.14) earnings per share. On average, equities research analysts predict that Frontier Group will post 0.04 EPS for the current year.

Insider Buying and Selling at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares in the company, valued at $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently bought and sold shares of ULCC. Algert Global LLC lifted its holdings in Frontier Group by 80.2% during the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after buying an additional 200,885 shares during the last quarter. Creative Planning lifted its stake in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after purchasing an additional 104,707 shares during the last quarter. U S Global Investors Inc. lifted its stake in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group in the third quarter valued at approximately $54,000. Finally, AlTi Global Inc. purchased a new position in Frontier Group in the second quarter valued at approximately $21,222,000.

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.