Frontier Group (NASDAQ:ULCC) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Frontier Group (NASDAQ:ULCC) from an underperform rating to a market perform rating in a research report report published on Monday morning, MarketBeat.com reports.

Several other brokerages have also commented on ULCC. TD Cowen boosted their price target on Frontier Group from $3.00 to $4.00 and gave the stock a hold rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Citigroup raised their price target on Frontier Group from $3.50 to $4.70 and gave the company a neutral rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered shares of Frontier Group from a neutral rating to an underweight rating in a research report on Tuesday, July 30th. Finally, Bank of America cut their target price on shares of Frontier Group from $5.50 to $5.00 and set a neutral rating for the company in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $5.57.

Frontier Group Trading Down 1.6 %

Shares of ULCC stock opened at $4.99 on Monday. Frontier Group has a 1-year low of $2.79 and a 1-year high of $8.33. 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 business’s fifty day moving average price is $3.88 and its 200 day moving average price is $5.12. The firm has a market capitalization of $1.12 billion, a PE ratio of -41.58 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last announced its quarterly 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 during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. As a group, sell-side analysts forecast that Frontier Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in Frontier Group in the 2nd quarter valued at about $45,000. nVerses Capital LLC grew its holdings in Frontier Group by 152.5% in 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 position in Frontier Group during the second quarter worth approximately $58,000. Arizona State Retirement System raised its stake in Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $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 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after purchasing an additional 4,279 shares during the last quarter.

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.