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

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares rose 4.6% during mid-day 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. Approximately 96,001 shares traded hands during trading, a decline of 95% from the average daily volume of 1,987,341 shares. The stock had previously closed at $4.37.

A number of other research analysts also recently issued reports on ULCC. Bank of America reduced their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Barclays reduced their target price 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. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen upped their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Frontier Group currently has an average rating of “Hold” and an average price target of $5.92.

Institutional Trading of Frontier Group

A number of large investors have recently made changes to their positions in ULCC. Blue Trust Inc. bought a new stake in Frontier Group in the 2nd quarter worth approximately $45,000. nVerses Capital LLC increased its position in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Frontier Group in the second quarter valued at about $58,000. Private Advisor Group LLC purchased a new position in Frontier Group in the fourth quarter worth about $59,000. Finally, Arizona State Retirement System boosted its position in 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 purchasing an additional 3,521 shares during the last quarter.

Frontier Group Trading Down 2.2 %

The firm has a market capitalization of $985.47 million, a P/E ratio of -36.58 and a beta of 2.49. 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 50 day simple moving average of $3.71 and a 200-day simple moving average of $5.32.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Frontier Group Holdings, Inc. will post -0.07 EPS for the current fiscal year.

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.