Frontier Group (NASDAQ:ULCC) Shares Gap Up After Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $4.70 to $7.15. The stock had previously closed at $6.72, but opened at $7.00. Citigroup currently has a neutral rating on the stock. Frontier Group shares last traded at $6.77, with a volume of 586,066 shares.

Several other equities research analysts have also recently issued reports on the stock. Bank of America decreased their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. TD Cowen upped their price objective on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Susquehanna lifted their price objective on Frontier Group from $3.00 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.02.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new stake in shares of Frontier Group in the second quarter worth $45,000. nVerses Capital LLC grew its holdings 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 purchasing an additional 6,100 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in Frontier Group during the 2nd quarter worth $58,000. Arizona State Retirement System grew its position 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 during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after buying an additional 4,279 shares during the period.

Frontier Group Stock Up 0.6 %

The firm has a market capitalization of $1.51 billion, a P/E ratio of -56.00 and a beta of 2.55. The firm’s 50-day moving average is $4.52 and its 200 day moving average is $4.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52.

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