Brokerages Set Frontier Group Holdings, Inc. (NASDAQ:ULCC) PT at $5.92

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.92.

Several equities research analysts have recently weighed in on ULCC shares. Barclays reduced their price objective on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Susquehanna reduced their price target on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, August 16th. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Bank of America reduced their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, Citigroup boosted their price target on Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a research note on Monday, September 16th.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $5.28 on Friday. The firm has a market capitalization of $1.19 billion, a PE 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 has a 1 year low of $2.79 and a 1 year high of $8.33. The firm’s fifty day simple moving average is $3.83 and its 200 day simple moving average is $5.13.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The business had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Group will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Frontier Group

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after purchasing an additional 2,746 shares in the last quarter. Arizona State Retirement System grew its stake in Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after buying an additional 3,521 shares during the last quarter. Rhumbline Advisers grew its stake in Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after buying an additional 3,543 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after buying an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring 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.