Evercore ISI Boosts Frontier Group (NASDAQ:ULCC) Price Target to $5.00

Frontier Group (NASDAQ:ULCC) had its target price upped by Evercore ISI from $4.00 to $5.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts have also recently weighed in on the stock. Susquehanna reduced their price objective 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. Barclays reduced 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 note on Monday, August 12th. Raymond James raised shares of Frontier Group from an underperform rating to a market perform rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut shares of Frontier Group from a neutral rating to an underweight rating in a research note on Tuesday, July 30th. Finally, Bank of America dropped their target price on shares of Frontier Group from $5.50 to $5.00 and set a neutral rating on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $5.57.

Frontier Group Stock Performance

NASDAQ ULCC opened at $5.81 on Thursday. The firm’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $5.11. The stock has a market cap of $1.30 billion, a PE ratio of -48.41 and a beta of 2.55. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. 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 posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that Frontier Group will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently made changes to their positions in the stock. AlTi Global Inc. acquired a new position in shares of Frontier Group during the second quarter valued at about $21,222,000. Vanguard Group Inc. increased its position in shares of Frontier Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after acquiring an additional 60,943 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of 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. Boston Partners increased its position in shares of 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 acquiring an additional 672,471 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in shares of Frontier Group by 18.5% during the second quarter. SkyView Investment Advisors LLC now owns 325,444 shares of the company’s stock worth $1,604,000 after acquiring an additional 50,779 shares in 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.