Frontier Group (NASDAQ:ULCC) Shares Up 4.9% Following Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price shot up 4.9% during mid-day trading on Monday after Barclays raised their price target on the stock from $7.00 to $9.00. Barclays currently has an overweight rating on the stock. Frontier Group traded as high as $7.52 and last traded at $7.48. 300,351 shares were traded during trading, a decline of 88% from the average session volume of 2,466,217 shares. The stock had previously closed at $7.13.

Several other research firms have also weighed in on ULCC. UBS Group assumed coverage on shares of Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price objective for the company. Raymond James dropped their price target on Frontier Group from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, December 12th. Evercore ISI boosted their price objective on Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Bank of America restated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Finally, Susquehanna lifted their price target on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.78.

Insider Activity at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the business’s 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 sale, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 83.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. U S Global Investors Inc. boosted its position in shares of 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 worth $57,241,000 after purchasing an additional 3,305,465 shares during the last quarter. Jump Financial LLC bought a new position in Frontier Group during the third quarter worth about $1,867,000. Boston Partners grew its position in shares of Frontier Group by 65.5% during the 3rd quarter. Boston Partners now owns 184,559 shares of the company’s stock worth $893,000 after buying an additional 73,024 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 acquiring an additional 98,852 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake 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 acquiring an additional 13,300 shares during the last quarter.

Frontier Group Stock Down 0.4 %

The business’s 50-day moving average is $7.23 and its two-hundred day moving average is $5.50. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -122.50 and a beta of 2.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group Company Profile

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.