Frontier Group (NASDAQ:ULCC) Price Target Cut to $6.00 by Analysts at Barclays

Frontier Group (NASDAQ:ULCC) had its price objective decreased by Barclays from $7.00 to $6.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Raymond James downgraded Frontier Group from a market perform rating to an underperform rating in a report on Friday, July 5th. Deutsche Bank Aktiengesellschaft reduced their price target 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. JPMorgan Chase & Co. cut Frontier Group from a neutral rating to an underweight rating in a report on Tuesday, July 30th. TD Cowen dropped their price objective on shares of Frontier Group from $6.50 to $4.00 and set a hold rating on the stock in a research note on Wednesday, July 17th. Finally, Susquehanna reduced their target price on shares of Frontier Group from $6.00 to $4.50 and set a neutral rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $6.24.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $3.40 on Monday. The company has a market cap of $761.46 million, a P/E ratio of -28.33 and a beta of 2.50. The firm’s 50 day moving average is $4.28 and its two-hundred day moving average is $5.84. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.49.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative return on equity of 4.11% and a negative net margin of 1.77%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. Analysts expect that Frontier Group will post 0.21 EPS for the current year.

Institutional Trading of Frontier Group

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Frontier Group by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after purchasing an additional 2,746 shares during the period. Arizona State Retirement System grew 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 worth $77,000 after purchasing an additional 3,521 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after purchasing an additional 3,543 shares in the last quarter. XTX Topco Ltd lifted its stake in Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in 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 buying an additional 4,279 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.