Frontier Group (NASDAQ:ULCC) Sets New 1-Year Low Following Analyst Downgrade

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) hit a new 52-week low during trading on Tuesday after Evercore ISI lowered their price target on the stock from $12.00 to $10.00. Evercore ISI currently has an outperform rating on the stock. Frontier Group traded as low as $6.48 and last traded at $6.53, with a volume of 59028 shares. The stock had previously closed at $6.58.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Frontier Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, August 2nd. Bank of America reduced their target price on shares of Frontier Group from $13.00 to $12.00 in a report on Monday, June 26th. 500.com reiterated a “downgrade” rating on shares of Frontier Group in a report on Monday, May 8th. Raymond James reduced their target price on shares of Frontier Group from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Finally, Citigroup reduced their target price on shares of Frontier Group from $19.00 to $16.00 in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.90.

Insider Transactions at Frontier Group

In related news, CEO Barry Biffle sold 44,418 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $7.43, for a total value of $330,025.74. Following the transaction, the chief executive officer now directly owns 756,119 shares of the company’s stock, valued at approximately $5,617,964.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Frontier Group news, CFO James G. Dempsey sold 183,464 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $8.26, for a total value of $1,515,412.64. Following the completion of the sale, the chief financial officer now owns 87,507 shares in the company, valued at $722,807.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barry Biffle sold 44,418 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $7.43, for a total value of $330,025.74. Following the completion of the sale, the chief executive officer now directly owns 756,119 shares of the company’s stock, valued at $5,617,964.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 851,529 shares of company stock worth $7,030,696. 83.20% of the stock is currently owned by insiders.

Institutional Trading of Frontier Group

Several institutional investors and hedge funds have recently bought and sold shares of ULCC. Royal Bank of Canada increased its stake in Frontier Group by 45.7% in the third quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock valued at $32,000 after purchasing an additional 1,062 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Frontier Group by 89.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,960 shares of the company’s stock valued at $59,000 after acquiring an additional 2,815 shares during the last quarter. State of Wyoming lifted its position in Frontier Group by 27.9% during the 2nd quarter. State of Wyoming now owns 6,655 shares of the company’s stock worth $64,000 after acquiring an additional 1,452 shares during the period. Point72 Middle East FZE purchased a new position in shares of Frontier Group in the 4th quarter valued at approximately $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Frontier Group in the second quarter valued at approximately $104,000.

Frontier Group Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.61 and a quick ratio of 0.58. The company has a 50 day moving average price of $8.72 and a 200 day moving average price of $9.23. The firm has a market cap of $1.47 billion, a PE ratio of 11.93, a PEG ratio of 0.15 and a beta of 2.02.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Frontier Group had a net margin of 3.56% and a return on equity of 25.80%. The company had revenue of $967.00 million during the quarter, compared to the consensus estimate of $966.73 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Frontier Group’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.66 EPS for the current fiscal year.

About Frontier Group

Frontier Group Holdings, Inc, a low-fare airline company, provides air transportation for passengers in United States and international destinations in the Americas. It offers its services through direct distribution channels, including its website, mobile app, and call center. Frontier Group Holdings, Inc was incorporated in 2013 and is headquartered in Denver, Colorado.