Raymond James Upgrades Frontier Group (NASDAQ:ULCC) to Market Perform

Frontier Group (NASDAQ:ULCC) was upgraded by equities research analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research report issued on Monday, Marketbeat.com reports.

A number of other analysts have also issued reports on ULCC. Bank of America dropped their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Barclays lowered their target price on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Susquehanna dropped their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, Citigroup increased their price target on Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.92.

Frontier Group Price Performance

ULCC opened at $4.84 on Monday. The company has a 50 day moving average of $3.77 and a two-hundred day moving average of $5.16. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.08 billion, a P/E ratio of -40.33 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm 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 company earned $0.31 EPS. The firm’s revenue was up .6% on a year-over-year basis. On average, analysts expect that Frontier Group will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ULCC. Cruiser Capital Advisors LLC bought a new stake in Frontier Group during the fourth quarter valued at $253,000. Norden Group LLC bought a new position in Frontier Group in the first quarter worth about $293,000. Capstone Investment Advisors LLC acquired a new position in Frontier Group in the first quarter valued at approximately $350,000. Susquehanna Fundamental Investments LLC bought a new position 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 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after purchasing an additional 109,418 shares during the period.

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.