Frontier Group (NASDAQ:ULCC) Price Target Cut to $5.35

Frontier Group (NASDAQ:ULCC) had its target price cut by equities researchers at Citigroup from $7.00 to $5.35 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 34.09% from the company’s previous close.

A number of other research firms have also commented on ULCC. Barclays reduced their price objective on shares of Frontier Group from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI increased their target price on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Susquehanna cut their target price on shares of Frontier Group from $6.00 to $4.50 and set a “neutral” rating on the stock in a research note on Tuesday. Raymond James downgraded shares of Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Frontier Group from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.76.

Frontier Group Price Performance

ULCC stock traded down $0.31 during trading on Wednesday, reaching $3.99. 2,303,893 shares of the company were exchanged, compared to its average volume of 2,016,073. The company has a 50-day moving average of $5.24 and a two-hundred day moving average of $6.08. The company has a market capitalization of $893.60 million, a price-to-earnings ratio of -33.25 and a beta of 2.51. Frontier Group has a twelve month low of $3.19 and a twelve month high of $10.27. 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 (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. As a group, equities analysts predict that Frontier Group will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Frontier Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Frontier Group in the second quarter valued at about $659,000. Simplicity Wealth LLC raised its holdings in shares of Frontier Group by 17.6% in the second quarter. Simplicity Wealth LLC now owns 29,532 shares of the company’s stock valued at $146,000 after purchasing an additional 4,428 shares during the last quarter. Boston Partners increased its holdings in Frontier Group by 176.6% during the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after buying an additional 672,471 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in Frontier Group by 15.9% during the first quarter. SkyView Investment Advisors LLC now owns 274,665 shares of the company’s stock worth $2,228,000 after buying an additional 37,644 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Frontier Group by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after buying an additional 2,746 shares during the last quarter.

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.