Frontier Group (NASDAQ:ULCC) Reaches New 52-Week High – Still a Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.42 and last traded at $8.42, with a volume of 266531 shares trading hands. The stock had previously closed at $8.33.

Wall Street Analyst Weigh In

ULCC has been the topic of a number of research reports. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna lifted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. UBS Group raised their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley lowered their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Barclays boosted their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.96.

Frontier Group Price Performance

The stock has a market cap of $1.86 billion, a P/E ratio of -206.70 and a beta of 2.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The firm has a 50-day moving average price of $6.63 and a 200-day moving average price of $5.28.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’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. On average, analysts forecast that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 355,000 shares of company stock valued at $2,569,150 in the last ninety days. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new position in Frontier Group in the third quarter valued at about $54,000. Ballentine Partners LLC purchased a new position in Frontier Group in the 3rd quarter worth approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group in the second quarter valued at $58,000. Blue Trust Inc. raised its stake in shares of Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after buying an additional 8,507 shares during the last quarter.

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.