Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives Average Rating of “Reduce” from Brokerages

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has received an average recommendation of “Reduce” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.92.

A number of brokerages have recently commented on ULCC. Citigroup boosted their price objective on shares of Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Susquehanna reduced their price objective on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Raymond James downgraded Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Finally, TD Cowen upped their price objective on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Frontier Group by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after acquiring an additional 2,746 shares in the last quarter. Arizona State Retirement System grew its position in shares of Frontier Group by 29.0% during the 2nd 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 in the last quarter. Rhumbline Advisers increased its holdings in shares of Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after purchasing an additional 3,543 shares during the period. XTX Topco Ltd raised its position in shares of Frontier Group by 10.6% in the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after buying an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of 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 buying an additional 4,279 shares during the period.

Frontier Group Trading Up 5.4 %

Shares of NASDAQ:ULCC opened at $4.85 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -40.41 and a beta of 2.49. Frontier Group has a 12 month low of $2.79 and a 12 month high of $8.33. The company’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $5.21. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data 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. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company 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 firm earned $0.31 earnings per share. Frontier Group’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that Frontier Group will post -0.01 EPS 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.