Frontier Group (NASDAQ:ULCC) Rating Increased to Market Perform at Raymond James

Frontier Group (NASDAQ:ULCC) was upgraded by equities research analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Marketbeat reports.

ULCC has been the topic of several other reports. Barclays lowered their price target 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. Susquehanna reduced their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Bank of America reduced their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Citigroup boosted their target price on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus target price of $5.92.

Frontier Group Trading Down 1.3 %

Shares of ULCC stock opened at $5.28 on Monday. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33. The company’s 50-day moving average price is $3.83 and its 200-day moving average price is $5.13. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -44.00 and a beta of 2.49. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Frontier Group’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts predict that Frontier Group will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. acquired a new position in shares of Frontier Group in the 2nd quarter valued at approximately $45,000. nVerses Capital LLC increased its stake in shares of Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Frontier Group in the second quarter valued at $58,000. Arizona State Retirement System raised its stake in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Frontier Group by 27.3% during the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $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.