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

Frontier Group (NASDAQ:ULCC) had its price target lowered by Morgan Stanley from $10.00 to $9.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. Barclays reduced their target price on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their target price on Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Evercore ISI reduced their price objective on shares of Frontier Group from $7.00 to $5.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Citigroup cut their price target on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America cut their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Frontier Group Trading Down 3.8%

Shares of ULCC stock opened at $4.01 on Monday. Frontier Group has a twelve month low of $2.79 and a twelve month high of $10.26. The stock has a market cap of $913.34 million, a price-to-earnings ratio of 11.14 and a beta of 2.55. The company’s 50-day moving average price is $4.06 and its 200-day moving average price is $6.12. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

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

Insider Buying and Selling

In related news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction dated 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 owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares in the company, valued at $1,542,520.22. The trade was a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ULCC. R Squared Ltd bought a new stake in shares of Frontier Group in the 4th quarter valued at $32,000. Byrne Asset Management LLC bought a new position in Frontier Group in the first quarter valued at approximately $35,000. KLP Kapitalforvaltning AS acquired a new position in shares of Frontier Group in the fourth quarter valued at approximately $50,000. Nisa Investment Advisors LLC raised its holdings in shares of Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after acquiring an additional 7,380 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Frontier Group in the 1st quarter worth $76,000.

About Frontier Group

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.