Frontier Group Holdings, Inc. (NASDAQ:ULCC) Given Average Recommendation of “Hold” by Brokerages

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.52.

A number of brokerages recently issued reports on ULCC. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Susquehanna lifted their price target on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, TD Cowen upped 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.

Frontier Group Stock Up 1.5 %

Frontier Group stock opened at $5.47 on Friday. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $5.76 and a 200-day moving average of $4.95. The stock has a market capitalization of $1.23 billion, a PE ratio of -136.75 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts anticipate that Frontier Group will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently modified their holdings of the company. AlTi Global Inc. acquired a new position in shares of Frontier Group in the second quarter valued at about $21,222,000. U S Global Investors Inc. grew its position in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. Boston Partners increased its holdings in shares of Frontier Group by 176.6% during the first 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 during the period. Verition Fund Management LLC raised its position in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares during the period.

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.