Frontier Group (NASDAQ:ULCC) Shares Gap Up on Analyst Upgrade

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped up prior to trading on Friday after Evercore ISI raised their price target on the stock from $4.00 to $5.00. The stock had previously closed at $4.99, but opened at $5.50. Evercore ISI currently has an in-line rating on the stock. Frontier Group shares last traded at $5.95, with a volume of 1,596,636 shares traded.

A number of other research firms have also recently commented on ULCC. Barclays reduced their price objective on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Citigroup boosted their target price on shares of Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Susquehanna cut 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 report on Friday, August 16th. 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cruiser Capital Advisors LLC purchased a new position in shares of Frontier Group in the fourth quarter valued at about $253,000. Norden Group LLC bought a new position in Frontier Group in the 1st quarter worth approximately $293,000. Capstone Investment Advisors LLC bought a new position in Frontier Group in the 1st quarter worth approximately $350,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Frontier Group during the first quarter valued at approximately $494,000. Finally, Russell Investments Group Ltd. raised its position in shares of Frontier Group by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock valued at $8,956,000 after buying an additional 109,418 shares during the last quarter.

Frontier Group Price Performance

The stock has a market cap of $1.35 billion, a PE ratio of -50.08 and a beta of 2.55. The firm’s fifty day moving average price is $3.88 and its 200 day moving average price is $5.12. 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 announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post -0.01 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.