Raymond James Lowers Frontier Group (NASDAQ:ULCC) to Underperform

Raymond James lowered shares of Frontier Group (NASDAQ:ULCC) from a market perform rating to an underperform rating in a research note published on Friday, MarketBeat.com reports.

A number of other equities research analysts have also weighed in on ULCC. UBS Group initiated coverage on shares of Frontier Group in a report on Wednesday, March 20th. They set a neutral rating and a $8.00 price target for the company. Evercore ISI boosted their price target on Frontier Group from $7.00 to $8.50 and gave the stock an in-line rating in a research note on Thursday, April 4th. TD Cowen lowered their price objective on Frontier Group from $8.00 to $6.50 and set a hold rating for the company in a research note on Friday, May 3rd. Finally, Barclays lifted their price objective on Frontier Group from $7.00 to $9.00 and gave the stock an overweight rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $7.28.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $4.31 on Friday. Frontier Group has a twelve month low of $3.19 and a twelve month high of $10.57. The firm has a market capitalization of $965.27 million, a price-to-earnings ratio of -35.91 and a beta of 2.51. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $5.44 and its 200 day simple moving average is $6.14.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) earnings per share. As a group, equities research analysts expect that Frontier Group will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in Frontier Group by 632.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after purchasing an additional 4,980 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Frontier Group by 20.0% during the third quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock valued at $18,494,000 after buying an additional 636,921 shares during the last quarter. Wealthsource Partners LLC boosted its position in shares of Frontier Group by 20.3% during the fourth quarter. Wealthsource Partners LLC now owns 113,711 shares of the company’s stock worth $621,000 after buying an additional 19,213 shares during the period. Good Life Advisors LLC acquired a new stake in Frontier Group in the 4th quarter valued at approximately $253,000. Finally, U S Global Investors Inc. raised its stake in Frontier Group by 46.0% during the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after acquiring an additional 3,305,465 shares in the last quarter.

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.