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

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares 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 trading hands.

Other equities research analysts also recently issued research reports about the company. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Barclays lowered their price target on 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 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. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cruiser Capital Advisors LLC purchased a new position in shares of Frontier Group in the 4th quarter valued at $253,000. Norden Group LLC purchased a new position in Frontier Group in the first quarter valued at about $293,000. Capstone Investment Advisors LLC acquired a new position in shares of Frontier Group during the first quarter worth about $350,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Frontier Group in the first quarter worth about $494,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Frontier Group by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after buying an additional 109,418 shares during the period.

Frontier Group Trading Up 16.4 %

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -48.41 and a beta of 2.55. 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 business has a 50 day moving average price of $3.88 and a 200-day moving average price of $5.12.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating 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 business had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Frontier Group Holdings, Inc. will post 0.05 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.