Raymond James Upgrades Frontier Group (NASDAQ:ULCC) to Market Perform

Frontier Group (NASDAQ:ULCC) was upgraded by equities research analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat Ratings reports.

Several other analysts have also issued reports on the company. Barclays cut 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. Susquehanna decreased their target price on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. TD Cowen upped their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Citigroup increased their target price on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One 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. According to data from MarketBeat.com, Frontier Group has an average rating of “Hold” and an average price target of $5.92.

Frontier Group Price Performance

Shares of NASDAQ:ULCC opened at $5.28 on Monday. 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 stock has a market capitalization of $1.19 billion, a PE ratio of -44.00 and a beta of 2.49. The firm’s 50 day moving average price is $3.83 and its 200-day moving average price is $5.13. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts expect that Frontier Group will post -0.01 EPS for the current year.

Institutional Trading of Frontier Group

A number of large investors have recently made changes to their positions in ULCC. Price T Rowe Associates Inc. MD grew its stake in Frontier Group by 11.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after acquiring an additional 2,746 shares in the last quarter. Arizona State Retirement System raised its holdings 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 valued at $77,000 after purchasing an additional 3,521 shares in the last quarter. Rhumbline Advisers lifted its holdings in Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after buying an additional 3,543 shares during the period. XTX Topco Ltd boosted its position in Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after acquiring an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring an additional 4,279 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.