Frontier Group (NASDAQ:ULCC) Stock Price Up 5.2% – Time to Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $3.35 and last traded at $3.33. 375,666 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,453,855 shares. The stock had previously closed at $3.16.

Analyst Ratings Changes

Several brokerages have commented on ULCC. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Morgan Stanley raised their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Barclays cut their price target on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Bank of America lowered their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Susquehanna dropped their price target on Frontier Group from $9.00 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus target price of $6.11.

Frontier Group Stock Down 2.8 %

The stock’s 50-day simple moving average is $6.02 and its 200-day simple moving average is $6.53. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $702.20 million, a P/E ratio of 8.58 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 $158,536.56. The trade was a 38.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,982 shares of company stock worth $3,174,847. 81.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontier Group

A number of large investors have recently modified their holdings of the stock. R Squared Ltd bought a new position in Frontier Group in the fourth quarter worth $32,000. KLP Kapitalforvaltning AS purchased a new stake in Frontier Group in the fourth quarter worth approximately $50,000. Nisa Investment Advisors LLC grew its holdings in shares of Frontier Group by 1,230.0% in 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. Byrne Asset Management LLC bought a new stake in shares of Frontier Group during the 1st quarter valued at about $35,000. Finally, ProShare Advisors LLC purchased a new stake in Frontier Group during the fourth quarter valued at approximately $84,000.

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.