Barclays Cuts Frontier Group (NASDAQ:ULCC) Price Target to $7.00

Frontier Group (NASDAQ:ULCC) had its target price reduced by analysts at Barclays from $9.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 67.87% from the stock’s current price.

ULCC has been the subject of a number of other reports. Evercore ISI boosted their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a report on Thursday, April 4th. UBS Group started coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Raymond James downgraded shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. TD Cowen cut their price objective on shares of Frontier Group from $8.00 to $6.50 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Frontier Group from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Frontier Group currently has a consensus rating of “Hold” and an average price target of $7.10.

Frontier Group Price Performance

ULCC stock opened at $4.17 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.50 and a quick ratio of 0.46. Frontier Group has a one year low of $3.19 and a one year high of $10.57. The stock has a market cap of $933.91 million, a PE ratio of -34.75 and a beta of 2.51. The firm has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $6.11.

Frontier Group (NASDAQ:ULCC) last announced 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. The firm had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. On average, analysts predict that Frontier Group will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC bought a new position in shares of Frontier Group in the 4th quarter worth approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Frontier Group by 200.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after purchasing an additional 7,782 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 purchasing an additional 8,067 shares in the last quarter. Simplicity Solutions LLC purchased a new position in shares of Frontier Group in the fourth quarter valued at $111,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Frontier Group in the fourth quarter valued at $111,000.

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.