Frontier Group (NASDAQ:ULCC) Reaches New 1-Year High – Time to Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.85 and last traded at $8.45, with a volume of 337389 shares trading hands. The stock had previously closed at $8.58.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ULCC. Morgan Stanley lowered their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Susquehanna upped their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Citigroup upped their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, 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 note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.96.

Frontier Group Trading Down 0.1 %

The company’s fifty day moving average is $6.85 and its two-hundred day moving average is $5.43. 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 company has a market cap of $1.92 billion, a price-to-earnings ratio of -212.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share 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. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. On average, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.1 EPS for the current year.

Insider Transactions at Frontier Group

In other news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the transaction, the chief executive officer now owns 864,817 shares in the company, valued at $7,247,166.46. This trade represents a 15.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock valued at $6,214,070 in the last 90 days. 81.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd purchased a new position in shares of Frontier Group during the 4th quarter valued at approximately $32,000. Victory Capital Management Inc. purchased a new position in Frontier Group in the 3rd quarter valued at $54,000. Ballentine Partners LLC purchased a new position in Frontier Group in the 3rd quarter valued at $55,000. Nisa Investment Advisors LLC lifted its holdings in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Frontier Group in the 2nd quarter valued at $58,000.

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.