Frontier Group (NASDAQ:ULCC) Stock Price Up 9.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price rose 9.3% during mid-day trading on Thursday . The company traded as high as $3.98 and last traded at $3.98. Approximately 273,830 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,962,540 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

ULCC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Raymond James downgraded Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Citigroup dropped their price target on Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. TD Cowen dropped their price target on Frontier Group from $6.50 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Finally, Barclays dropped their price target on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.09.

Frontier Group Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The stock has a market cap of $875.47 million, a price-to-earnings ratio of -32.58 and a beta of 2.49. The company has a 50 day simple moving average of $3.80 and a 200 day simple moving average of $5.54.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company 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 4.09% and a negative net margin of 1.77%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities research analysts forecast that Frontier Group Holdings, Inc. will post -0.1 EPS for the current year.

Institutional Trading of Frontier Group

Several institutional investors have recently added to or reduced their stakes in ULCC. AlTi Global Inc. bought a new stake in Frontier Group in the second quarter valued at approximately $21,222,000. Russell Investments Group Ltd. boosted its holdings in Frontier Group by 215.0% in the fourth quarter. Russell Investments Group Ltd. now owns 994,874 shares of the company’s stock valued at $5,432,000 after acquiring an additional 679,075 shares during the last quarter. Boston Partners boosted its holdings in Frontier Group by 176.6% in the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after acquiring an additional 672,471 shares during the last quarter. Jade Capital Advisors LLC boosted its holdings in Frontier Group by 2,400.0% in the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock valued at $2,730,000 after acquiring an additional 480,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Frontier Group in the second quarter valued at approximately $1,011,000.

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.