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

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped up prior to trading 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 trading hands.

A number of other equities analysts have also recently issued reports on the stock. Susquehanna boosted their price objective on shares of Frontier Group from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. TD Cowen boosted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, Barclays decreased their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.02.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds have recently bought and sold shares of ULCC. Norden Group LLC bought a new stake in Frontier Group during the first quarter worth about $293,000. Capstone Investment Advisors LLC bought a new stake in Frontier Group during the first quarter worth about $350,000. Susquehanna Fundamental Investments LLC bought a new stake in Frontier Group during the first quarter worth about $494,000. Russell Investments Group Ltd. boosted its stake in Frontier Group by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after acquiring an additional 109,418 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Frontier Group by 23.3% during the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock worth $204,000 after acquiring an additional 4,756 shares in the last quarter.

Frontier Group Price Performance

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 $4.66 and its 200 day moving average is $4.99. The firm has a market cap of $1.57 billion, a P/E ratio of -24.07 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $973.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. 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.