Frontier Group (NASDAQ:ULCC) Shares Gap Down to $3.87

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.87, but opened at $3.69. Frontier Group shares last traded at $3.95, with a volume of 103,823 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen decreased their price target on Frontier Group from $6.50 to $4.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Susquehanna reduced their target price on Frontier Group from $6.00 to $4.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Evercore ISI upped their target price on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, Barclays reduced their target price on Frontier Group from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.76.

Frontier Group Price Performance

The company has a fifty day simple moving average of $4.84 and a two-hundred day simple moving average of $6.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50. The company has a market capitalization of $902.56 million, a price-to-earnings ratio of -34.41 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. Frontier Group’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.31 earnings per share for the current year.

Institutional Trading of Frontier Group

A number of institutional investors and hedge funds have recently made changes to their positions in ULCC. Vanguard Group Inc. increased its holdings 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 buying an additional 636,921 shares during the last quarter. U S Global Investors Inc. increased its holdings 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 buying an additional 3,305,465 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in Frontier Group in the 4th quarter valued at $111,000. Simplicity Solutions LLC acquired a new stake in Frontier Group in the 4th quarter valued at $111,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Frontier Group by 200.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after purchasing an additional 7,782 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.