Frontier Group (NASDAQ:ULCC – Free Report) had its price target increased by Evercore ISI from $7.00 to $8.50 in a research report sent to investors on Thursday, Benzinga reports. They currently have an in-line rating on the stock.
Several other research firms also recently issued reports on ULCC. UBS Group initiated coverage on Frontier Group in a research note on Wednesday, March 20th. They issued a neutral rating and a $8.00 price target for the company. Raymond James reduced their price target on Frontier Group from $9.00 to $8.00 and set an outperform rating for the company in a research note on Tuesday, December 12th. TD Cowen boosted their price target on Frontier Group from $5.00 to $12.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Morgan Stanley reaffirmed an equal weight rating and issued a $8.00 price objective (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Finally, Susquehanna lifted their price objective on Frontier Group from $5.00 to $7.00 and gave the company a neutral rating in a report on Friday, February 9th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $7.51.
Check Out Our Latest Stock Report on ULCC
Frontier Group Stock Up 0.3 %
Insider Transactions at Frontier Group
In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total value of $1,170,506.40. Following the completion of the transaction, the chief executive officer now owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 83.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Frontier Group
Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in Frontier Group in the 3rd quarter worth about $1,867,000. Boston Partners grew its position in shares of Frontier Group by 65.5% in the 3rd quarter. Boston Partners now owns 184,559 shares of the company’s stock valued at $893,000 after buying an additional 73,024 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Frontier Group by 29.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company’s stock valued at $2,106,000 after buying an additional 98,852 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Frontier Group by 13.3% in the 3rd quarter. Primecap Management Co. CA now owns 113,200 shares of the company’s stock valued at $548,000 after buying an additional 13,300 shares during the last quarter. Finally, Wealthsource Partners LLC grew its position in shares of Frontier Group by 20.3% in the 4th quarter. Wealthsource Partners LLC now owns 113,711 shares of the company’s stock valued at $621,000 after buying an additional 19,213 shares during the last quarter.
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.
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