Frontier Group (NASDAQ:ULCC) Price Target Increased to $5.00 by Analysts at Evercore ISI

Frontier Group (NASDAQ:ULCC) had its price target lifted by analysts at Evercore ISI from $4.00 to $5.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential downside of 0.60% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday. 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. Bank of America reduced their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, Barclays reduced their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.57.

Frontier Group Stock Performance

Shares of ULCC traded down $0.04 during trading hours on Thursday, hitting $5.03. The company’s stock had a trading volume of 261,116 shares, compared to its average volume of 2,033,385. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -41.66 and a beta of 2.49. 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 business has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $5.13. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33.

Frontier Group (NASDAQ:ULCC) last posted its 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 firm had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities analysts expect that Frontier Group will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently made changes to their positions in ULCC. Cruiser Capital Advisors LLC bought a new stake in shares of Frontier Group in the 4th quarter worth approximately $253,000. Norden Group LLC bought a new stake in shares of Frontier Group in the 1st quarter worth approximately $293,000. Capstone Investment Advisors LLC bought a new stake in shares of Frontier Group in the 1st quarter worth approximately $350,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Frontier Group in the 1st quarter worth approximately $494,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after acquiring an additional 109,418 shares during the last quarter.

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.