Frontier Group (NASDAQ:ULCC) Reaches New 52-Week High – Here’s Why

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) hit a new 52-week high during trading on Monday. The company traded as high as $8.52 and last traded at $8.4750, with a volume of 2,939,916 shares changing hands. The stock had previously closed at $7.43.

Wall Street Analyst Weigh In

ULCC has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Frontier Group from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Deutsche Bank raised Frontier Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $7.00 to $10.00 in a research report on Thursday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday, October 28th. Susquehanna boosted their target price on Frontier Group from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Finally, Zacks Research downgraded Frontier Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $7.07.

Frontier Group Price Performance

The firm has a 50-day moving average of $5.94 and a 200-day moving average of $5.51. The company has a debt-to-equity ratio of 10.68, a quick ratio of 0.57 and a current ratio of 0.62. The firm has a market capitalization of $1.86 billion, a P/E ratio of -4.51 and a beta of 2.71.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.24. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the company earned ($0.34) EPS. The company’s quarterly revenue was up 52.9% compared to the same quarter last year. As a group, analysts predict that Frontier Group Holdings, Inc. will post -0.33 EPS for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 7,500 shares of Frontier Group stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $6.00, for a total value of $45,000.00. Following the completion of the sale, the senior vice president directly owned 79,675 shares in the company, valued at $478,050. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 48.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently modified their holdings of ULCC. Private Advisor Group LLC bought a new stake in shares of Frontier Group in the third quarter worth $90,000. Russell Investments Group Ltd. grew its stake in shares of Frontier Group by 6.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 507,029 shares of the company’s stock valued at $3,027,000 after purchasing an additional 28,927 shares during the period. Pictet Asset Management Holding SA purchased a new position in shares of Frontier Group in the third quarter worth approximately $84,000. Commonwealth Equity Services LLC boosted its holdings in shares of Frontier Group by 2.1% in the third quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the company’s stock worth $439,000 after buying an additional 1,498 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in Frontier Group during the third quarter valued at approximately $123,000.

About Frontier Group

Frontier Group Holdings, Inc. is the parent company of Frontier Airlines, an ultra-low-cost passenger airline based in Denver, Colorado. The airline focuses on offering low base fares, with services such as checked baggage, seat selection and other travel options available for additional fees. Frontier Airlines began operating in 1994 and has expanded its route network over time. It serves destinations across the United States, Mexico, the Caribbean and Central America, connecting travelers through scheduled domestic and international flights.