UBS Group Initiates Coverage on Frontier Group (NASDAQ:ULCC)

UBS Group assumed coverage on shares of Frontier Group (NASDAQ:ULCC) in a research note published on Tuesday morning. The firm issued a neutral rating and a $6.00 target price on the stock.

A number of other research analysts also recently issued reports on ULCC. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Bank of America decreased their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Barclays lifted their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.32.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $5.57 on Tuesday. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The business has a 50 day moving average of $5.84 and a 200 day moving average of $4.94. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -139.22 and a beta of 2.51.

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

Insider Activity at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 81.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds have recently bought and sold shares of ULCC. Creative Planning increased its stake in Frontier Group by 81.0% during the 3rd quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after purchasing an additional 104,707 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after buying an additional 3,150,768 shares during the last quarter. Boston Partners increased its position 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 valued at $8,518,000 after acquiring an additional 672,471 shares in the last quarter. AlTi Global Inc. purchased a new position in Frontier Group in the 2nd quarter worth approximately $21,222,000. Finally, Algert Global LLC lifted its position in Frontier Group by 119.0% in the 2nd quarter. Algert Global LLC now owns 250,623 shares of the company’s stock valued at $1,236,000 after acquiring an additional 136,159 shares in 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.