Frontier Group (NASDAQ:ULCC) Trading 4.6% Higher on Analyst Upgrade

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

Other research analysts have also issued research reports about the company. Susquehanna dropped their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Bank of America cut their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. TD Cowen upped their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday. Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new position in Frontier Group in the fourth quarter valued at approximately $59,000. Quadrant Capital Group LLC grew its stake in shares of Frontier Group by 91.0% during the 4th quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock worth $92,000 after acquiring an additional 8,067 shares during the period. Jade Capital Advisors LLC increased its holdings in Frontier Group by 2,400.0% in the 4th quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock worth $2,730,000 after acquiring an additional 480,000 shares during the last quarter. Cruiser Capital Advisors LLC bought a new stake in Frontier Group in the 4th quarter valued at about $253,000. Finally, Norden Group LLC purchased a new stake in Frontier Group during the first quarter valued at about $293,000.

Frontier Group Stock Performance

The firm has a market capitalization of $1.01 billion, a PE ratio of -37.42 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 company’s fifty day simple moving average is $3.70 and its 200 day simple moving average is $5.33.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate 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 company had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.31 EPS. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect 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.