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

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $4.70 to $7.15. The stock had previously closed at $6.72, but opened at $7.00. Citigroup currently has a neutral rating on the stock. Frontier Group shares last traded at $6.77, with a volume of 586,066 shares.

Several other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft cut 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. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Barclays cut their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Bank of America cut their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.02.

Insider Transactions at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 81.50% of the stock is currently owned by insiders.

Institutional Trading of Frontier Group

A number of hedge funds have recently made changes to their positions in ULCC. AlTi Global Inc. bought a new stake in shares of Frontier Group during the 2nd quarter worth $21,222,000. U S Global Investors Inc. lifted its holdings in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Boston Partners raised its position in Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after purchasing an additional 672,471 shares during the period. Jade Capital Advisors LLC raised its position in Frontier Group by 624.3% in the 3rd quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock worth $1,334,000 after purchasing an additional 215,000 shares during the period. Finally, Marshall Wace LLP purchased a new position in Frontier Group in the 2nd quarter worth $1,011,000.

Frontier Group Stock Performance

The company has a market cap of $1.57 billion, a PE ratio of -24.07 and a beta of 2.55. The business’s 50-day moving average is $4.66 and its 200 day moving average is $4.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company 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 firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. On average, equities research analysts predict that Frontier Group Holdings, Inc. will post 0.08 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.