Frontier Group (NASDAQ:ULCC) Trading 4.6% Higher After Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price shot up 4.6% on Tuesday after Citigroup raised their price target on the stock from $3.50 to $4.70. Citigroup currently has a neutral rating on the stock. Frontier Group traded as high as $4.59 and last traded at $4.57. 96,001 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,987,341 shares. The stock had previously closed at $4.37.

Other equities research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays decreased their price target on Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Susquehanna cut their target price on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and an average target price of $5.92.

Institutional Trading of Frontier Group

Large investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Frontier Group in the 2nd quarter worth approximately $45,000. nVerses Capital LLC lifted its position in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after buying an additional 6,100 shares during the period. Private Advisor Group LLC bought a new stake in shares of Frontier Group during the 4th quarter valued at $59,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group in the 2nd quarter worth about $58,000. Finally, Arizona State Retirement System increased its stake in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after acquiring an additional 3,521 shares in the last quarter.

Frontier Group Price Performance

The firm has a market cap of $1.02 billion, a P/E ratio of -36.42 and a beta of 2.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The firm’s 50 day moving average is $3.70 and its 200 day moving average is $5.35.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The firm had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post -0.08 earnings per share for the current year.

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.