Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.78.

Several brokerages recently issued reports on ULCC. Bank of America reissued a “neutral” rating and set a $6.00 price objective (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Barclays upped their price target on Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James lowered their price objective on Frontier Group from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, December 12th. TD Cowen upped their target price on Frontier Group from $5.00 to $12.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price target (down previously from $10.00) on shares of Frontier Group in a report on Monday, January 8th.

Frontier Group Stock Down 0.4 %

Shares of Frontier Group stock opened at $7.35 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -122.50 and a beta of 2.57. The firm’s 50-day moving average is $7.23 and its two-hundred day moving average is $5.50. Frontier Group has a 1 year low of $3.19 and a 1 year high of $10.57.

Insider Buying and Selling

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the completion of the transaction, the chief executive officer now owns 772,981 shares in the company, valued at approximately $5,967,413.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 83.20% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds have recently modified their holdings of ULCC. U S Global Investors Inc. lifted its holdings in Frontier Group by 46.0% in the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after purchasing an additional 3,305,465 shares in the last quarter. Ancient Art L.P. lifted its position in Frontier Group by 52.3% in the third quarter. Ancient Art L.P. now owns 7,961,321 shares of the company’s stock valued at $38,533,000 after buying an additional 2,734,104 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Frontier Group by 215.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,837,680 shares of the company’s stock worth $26,589,000 after buying an additional 1,938,222 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Frontier Group in the 1st quarter valued at approximately $12,749,000. Finally, First Dallas Securities Inc. boosted its holdings in Frontier Group by 985.8% during the 3rd quarter. First Dallas Securities Inc. now owns 952,746 shares of the company’s stock valued at $4,611,000 after acquiring an additional 864,996 shares during the period.

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.