Frontier Group (NASDAQ:ULCC) Trading Up 4.6% on Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price traded up 4.6% during trading on Tuesday after Citigroup raised their price target on the stock from $3.50 to $4.70. Citigroup currently has a neutral rating on the stock. Frontier Group traded as high as $4.59 and last traded at $4.57. 96,001 shares changed hands during trading, a decline of 95% from the average session volume of 1,987,341 shares. The stock had previously closed at $4.37.

Other equities research analysts have also issued reports about the company. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Bank of America dropped their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Susquehanna cut their price target on Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Barclays lowered their price objective on Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.92.

Institutional Investors Weigh In On Frontier Group

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners lifted its stake in Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after purchasing an additional 672,471 shares in the last quarter. Cruiser Capital Advisors LLC purchased a new stake in shares of Frontier Group in the fourth quarter worth $253,000. Bleakley Financial Group LLC boosted its stake in Frontier Group by 23.3% during the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock valued at $204,000 after buying an additional 4,756 shares during the period. Norden Group LLC purchased a new position in Frontier Group during the first quarter worth about $293,000. Finally, Russell Investments Group Ltd. increased its stake in Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after acquiring an additional 109,418 shares during the last quarter.

Frontier Group Trading Up 4.6 %

The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.02 billion, a PE ratio of -36.42 and a beta of 2.49. The firm has a fifty day simple moving average of $3.70 and a two-hundred day simple moving average of $5.35.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post -0.08 earnings per share for the current fiscal year.

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.