Morgan Stanley Lowers Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its price target dropped by investment analysts at Morgan Stanley from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 16.47% from the stock’s current price.

ULCC has been the topic of several other reports. Evercore ISI upped their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. UBS Group assumed coverage on shares of Frontier Group in a report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price target on the stock. Citigroup raised their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen upped their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Finally, Susquehanna raised their price target on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Frontier Group presently has an average rating of “Hold” and an average target price of $6.62.

Frontier Group Stock Up 1.5 %

ULCC opened at $6.01 on Wednesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of -150.25 and a beta of 2.43. Frontier Group has a one year low of $2.79 and a one year high of $8.33. The company has a fifty day moving average price of $6.10 and a 200-day moving average price of $4.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) EPS. Equities research analysts expect that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ULCC. Blue Trust Inc. purchased a new position in shares of Frontier Group during the second quarter valued at about $45,000. nVerses Capital LLC boosted its position in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Frontier Group during the 3rd quarter worth approximately $54,000. Ballentine Partners LLC bought a new position in shares of Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group in the 2nd quarter valued at approximately $58,000.

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.