Frontier Group (NASDAQ:ULCC) Shares Up 5.6%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded up 5.6% during trading on Wednesday . The stock traded as high as $4.41 and last traded at $4.16. 555,107 shares were traded during trading, a decline of 72% from the average session volume of 1,954,833 shares. The stock had previously closed at $3.94.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna reduced their price objective on Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Barclays decreased their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.09.

Frontier Group Price Performance

The business has a 50 day moving average price of $3.70 and a two-hundred day moving average price of $5.41. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last announced its quarterly 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 return on equity of 4.09% and a negative net margin of 1.77%. The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts forecast that Frontier Group Holdings, Inc. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Frontier Group during the 2nd quarter valued at about $45,000. nVerses Capital LLC boosted its stake in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after purchasing an additional 6,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group during the 2nd quarter valued at $58,000. Private Advisor Group LLC bought a new stake in shares of Frontier Group in the 4th quarter worth $59,000. Finally, Arizona State Retirement System lifted its holdings in shares of Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 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.