Frontier Group (NASDAQ:ULCC) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Frontier Group (NASDAQ:ULCC) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $10.00 target price on the stock. Deutsche Bank Aktiengesellschaft‘s price target points to a potential upside of 41.04% from the company’s previous close.

A number of other brokerages also recently commented on ULCC. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. UBS Group raised their price target on Frontier Group from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Zacks Research downgraded Frontier Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Barclays lowered their price objective on Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, September 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $7.07.

Frontier Group Stock Up 9.6%

Shares of NASDAQ:ULCC opened at $7.09 on Thursday. Frontier Group has a fifty-two week low of $3.02 and a fifty-two week high of $8.40. The firm’s 50 day moving average price is $5.79 and its 200 day moving average price is $5.46. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 10.68. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -3.96 and a beta of 2.71.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.24. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted ($0.34) EPS. The firm’s revenue was up 52.9% on a year-over-year basis. As a group, equities research analysts predict that Frontier Group will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 7,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $6.00, for a total value of $45,000.00. Following the completion of the sale, the senior vice president directly owned 79,675 shares of the company’s stock, valued at approximately $478,050. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in Frontier Group in the 2nd quarter valued at $888,000. U S Global Investors Inc. boosted its stake in Frontier Group by 63.9% during the 1st quarter. U S Global Investors Inc. now owns 6,781,412 shares of the company’s stock worth $23,938,000 after purchasing an additional 2,643,448 shares during the period. GSA Capital Partners LLP purchased a new position in Frontier Group during the 2nd quarter worth $4,373,000. BlackRock Inc. purchased a new position in Frontier Group during the 2nd quarter worth $47,205,000. Finally, Bank of America Corp DE purchased a new position in Frontier Group during the 2nd quarter worth $7,337,000.

About Frontier Group

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.