Frontier Group (NASDAQ:ULCC) Lowered to Hold Rating by Deutsche Bank Aktiengesellschaft

Frontier Group (NASDAQ:ULCC) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They presently have a $8.00 price objective on the stock, down from their previous price objective of $12.00. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 15.44% from the company’s previous close.

A number of other brokerages also recently commented on ULCC. UBS Group increased their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Susquehanna raised their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays boosted their target price on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Morgan Stanley increased their price target on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus price target of $7.74.

Frontier Group Stock Down 3.8 %

NASDAQ ULCC opened at $6.93 on Tuesday. The stock has a 50 day moving average price of $8.12 and a 200-day moving average price of $6.36. Frontier Group has a one year low of $2.79 and a one year high of $10.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The company has a market capitalization of $1.57 billion, a P/E ratio of 19.25 and a beta of 2.35.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, equities analysts predict that Frontier Group will post 0.91 EPS for the current fiscal year.

Insider Activity at Frontier Group

In other news, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the senior vice president now directly owns 47,590 shares in the company, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard Diamond sold 87,830 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This represents a 33.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 845,830 shares of company stock worth $6,812,139 in the last quarter. 81.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Group

A number of institutional investors have recently modified their holdings of ULCC. Vanguard Group Inc. boosted its holdings in shares of Frontier Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after purchasing an additional 26,682 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Frontier Group by 31.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock worth $17,042,000 after buying an additional 578,151 shares during the period. Towle & Co. grew its position in shares of Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock worth $16,701,000 after buying an additional 134,723 shares in the last quarter. Voloridge Investment Management LLC increased its stake in shares of Frontier Group by 835.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock valued at $12,101,000 after buying an additional 1,520,094 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Frontier Group by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock valued at $11,564,000 after buying an additional 35,355 shares during the period.

About Frontier Group

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.