Bank of America Cuts Frontier Group (NASDAQ:ULCC) Price Target to $5.00

Frontier Group (NASDAQ:ULCC) had its price objective reduced by research analysts at Bank of America from $5.50 to $5.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 13.12% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered their price objective on Frontier Group from $6.50 to $4.00 and set a “hold” rating on the stock in a research report on Wednesday, July 17th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Barclays decreased their target price on Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup decreased their target price on Frontier Group from $7.00 to $5.35 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Two 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.com, the company presently has an average rating of “Hold” and an average price target of $5.99.

Frontier Group Trading Up 0.2 %

NASDAQ ULCC traded up $0.01 on Friday, hitting $4.42. 810,473 shares of the stock were exchanged, compared to its average volume of 1,973,284. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. The stock has a fifty day moving average price of $3.70 and a two-hundred day moving average price of $5.41. The firm has a market capitalization of $992.20 million, a P/E ratio of -36.83 and a beta of 2.49. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33.

Frontier Group (NASDAQ:ULCC) last announced its earnings results 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 net margin of 1.77% and a negative return on equity of 4.09%. The business had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Research analysts forecast that Frontier Group will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ULCC. AlTi Global Inc. acquired a new stake in shares of Frontier Group in the 2nd quarter worth $21,222,000. Boston Partners increased its position in shares of Frontier Group by 176.6% during the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after purchasing an additional 672,471 shares during the last quarter. Jade Capital Advisors LLC grew its position in shares of Frontier Group by 2,400.0% during the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock worth $2,730,000 after buying an additional 480,000 shares in the last quarter. Marshall Wace LLP acquired a new position in Frontier Group in the second quarter valued at approximately $1,011,000. Finally, Algert Global LLC lifted its stake in Frontier Group by 119.0% in the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock valued at $1,236,000 after buying an additional 136,159 shares during 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.