Frontier Group (NASDAQ:ULCC) Trading Up 6.2%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) rose 6.2% during mid-day trading on Monday . The company traded as high as $5.25 and last traded at $5.14. Approximately 342,688 shares traded hands during trading, a decline of 83% from the average daily volume of 2,022,614 shares. The stock had previously closed at $4.84.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ULCC shares. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Barclays reduced their price target on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 12th. TD Cowen boosted their target price on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday. Finally, Citigroup lifted their price objective on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Frontier Group has a consensus rating of “Hold” and a consensus price target of $5.92.

Frontier Group Stock Performance

The stock’s 50-day simple moving average is $3.77 and its 200 day simple moving average is $5.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The stock has a market capitalization of $1.20 billion, a P/E ratio of -42.83 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Research analysts expect that Frontier Group Holdings, Inc. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors have recently modified their holdings of ULCC. Blue Trust Inc. bought a new stake in shares of Frontier Group in the second quarter worth $45,000. nVerses Capital LLC increased its stake in shares of Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after buying an additional 6,100 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group during the second quarter worth about $58,000. Arizona State Retirement System lifted its stake in shares of Frontier Group by 29.0% in the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after acquiring an additional 3,521 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring an additional 4,279 shares during the last quarter.

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.