Frontier Group (NASDAQ:ULCC) Shares Up 7.9%

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $3.97 and last traded at $3.96. 574,528 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,998,919 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

ULCC has been the topic of a number of research reports. Susquehanna dropped their target price on shares of Frontier Group from $6.00 to $4.50 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Barclays reduced their price objective on Frontier Group from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Evercore ISI increased their price target on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Frontier Group from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.76.

Frontier Group Stock Performance

The firm’s fifty day moving average is $4.89 and its 200 day moving average is $5.99. The firm has a market capitalization of $909.28 million, a price-to-earnings ratio of -33.83 and a beta of 2.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.50 and a quick ratio of 0.46.

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, beating analysts’ consensus estimates of ($0.18) by $0.09. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The company had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. During the same quarter last year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Frontier Group Holdings, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ULCC. U S Global Investors Inc. increased its stake in shares of 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 worth $57,241,000 after purchasing an additional 3,305,465 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Frontier Group by 20.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after acquiring an additional 636,921 shares in the last quarter. Boston Partners increased its holdings in shares of Frontier Group by 106.3% during the 4th quarter. Boston Partners now owns 380,799 shares of the company’s stock valued at $2,079,000 after acquiring an additional 196,240 shares during the last quarter. Good Life Advisors LLC bought a new position in shares of Frontier Group in the 4th quarter valued at approximately $253,000. Finally, Cruiser Capital Advisors LLC acquired a new stake in Frontier Group in the 4th quarter worth approximately $253,000.

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.