Frontier Group (NASDAQ:ULCC) Price Target Cut to $9.00 by Analysts at Morgan Stanley

by · The Cerbat Gem

Frontier Group (NASDAQ:ULCC – Free Report) had its target price lowered by Morgan Stanley from $10.00 to $9.00 in a research note issued to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on ULCC. Barclays lowered their target price on Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Bank of America lowered their price objective on Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Citigroup decreased their target price on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Susquehanna dropped their price target on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Frontier Group currently has a consensus rating of “Hold” and an average price target of $6.00.

View Our Latest Stock Analysis on Frontier Group

Frontier Group Stock Performance

Frontier Group stock opened at $3.73 on Monday. The business has a 50 day moving average of $3.98 and a 200-day moving average of $6.09. The company has a market capitalization of $849.56 million, a P/E ratio of 10.36 and a beta of 2.55. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.03. The firm had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) EPS. On average, equities research analysts predict that Frontier Group will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at approximately $158,536.56. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors and hedge funds have recently made changes to their positions in ULCC. Voloridge Investment Management LLC raised its stake in Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after buying an additional 1,520,094 shares during the period. Highland Peak Capital LLC bought a new stake in shares of Frontier Group during the fourth quarter valued at approximately $6,492,000. Silver Point Capital L.P. acquired a new position in shares of Frontier Group during the first quarter worth approximately $3,906,000. Two Sigma Investments LP raised its position in shares of Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company’s stock worth $6,971,000 after purchasing an additional 813,929 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Frontier Group by 1,353.6% in the 1st quarter. American Century Companies Inc. now owns 774,988 shares of the company’s stock worth $3,363,000 after purchasing an additional 721,674 shares in the last quarter.

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 Stories