Frontier Group (NASDAQ:ULCC) Stock Price Down 4.2% After Analyst Downgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC) was down 4.2% on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $7.00 to $5.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Frontier Group traded as low as $4.32 and last traded at $4.34. Approximately 352,567 shares changed hands during trading, a decline of 83% from the average daily volume of 2,033,119 shares. The stock had previously closed at $4.53.

A number of other research firms also recently commented on ULCC. Raymond James downgraded Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. TD Cowen lowered their price objective on shares of Frontier Group from $8.00 to $6.50 and set a “hold” rating for the company in a research report on Friday, May 3rd. UBS Group began coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 target price on the stock. Evercore ISI lifted their price objective 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. Finally, Barclays upped their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.28.

Hedge Funds Weigh In On Frontier Group

A number of large investors have recently bought and sold shares of ULCC. Private Advisor Group LLC purchased a new stake in Frontier Group in the 4th quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Frontier Group by 200.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after buying an additional 7,782 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Frontier Group by 91.0% during the 4th quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock valued at $92,000 after acquiring an additional 8,067 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in Frontier Group in the 4th quarter valued at approximately $111,000. Finally, Bleakley Financial Group LLC acquired a new stake in Frontier Group during the 4th quarter valued at $111,000.

Frontier Group Stock Performance

The company has a market capitalization of $940.63 million, a PE ratio of -35.00 and a beta of 2.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50. The stock’s fifty day simple moving average is $5.41 and its 200-day simple moving average is $6.13.

Frontier Group (NASDAQ:ULCC) last issued its earnings results 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. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.5 earnings per share for the current year.

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.