Frontier Group (NASDAQ:ULCC) Downgraded by Raymond James to “Underperform”

Frontier Group (NASDAQ:ULCC) was downgraded by stock analysts at Raymond James from a “market perform” rating to an “underperform” rating in a report issued on Friday, MarketBeat.com reports.

A number of other brokerages have also recently commented on ULCC. TD Cowen reduced their target price on Frontier Group from $8.00 to $6.50 and set a “hold” rating for the company in a report on Friday, May 3rd. UBS Group initiated coverage on shares of Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 target price for the company. Evercore ISI raised their price target on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Barclays upped their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.28.

Frontier Group Stock Performance

NASDAQ ULCC opened at $4.86 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -40.50 and a beta of 2.51. The stock has a 50-day moving average of $5.51 and a 200 day moving average of $6.13. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. Frontier Group has a twelve month low of $3.19 and a twelve month high of $10.57.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The company had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Frontier Group will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ULCC. PNC Financial Services Group Inc. boosted its stake in shares of Frontier Group by 632.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after buying an additional 4,980 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Frontier Group during the 4th quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Frontier Group by 200.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock worth $64,000 after purchasing an additional 7,782 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Frontier Group by 91.0% in the fourth quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock valued at $92,000 after buying an additional 8,067 shares during the last quarter. Finally, Simplicity Solutions LLC acquired a new stake in Frontier Group in the fourth quarter valued at $111,000.

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.