Frontier Group (NASDAQ:ULCC) Upgraded by Deutsche Bank Aktiengesellschaft to Buy Rating

Frontier Group (NASDAQ:ULCC) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $8.00 price target on the stock, up from their prior price target of $6.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 33.11% from the stock’s current price.

ULCC has been the topic of several other research reports. Morgan Stanley dropped their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Bank of America cut their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. UBS Group started coverage on Frontier Group in a report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price for the company. TD Cowen upped their price target on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, Barclays lifted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.62.

Frontier Group Stock Up 1.5 %

Shares of NASDAQ:ULCC opened at $6.01 on Wednesday. Frontier Group has a 12-month low of $2.79 and a 12-month high of $8.33. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -150.25 and a beta of 2.43. The stock has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $4.93. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same quarter last year, the firm posted ($0.14) EPS. Frontier Group’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at $1,874,397. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently added to or reduced their stakes in ULCC. Price T Rowe Associates Inc. MD raised its position in shares of Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after purchasing an additional 2,746 shares during the period. Arizona State Retirement System lifted its holdings in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after purchasing an additional 3,521 shares in the last quarter. Rhumbline Advisers increased its holdings in Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after acquiring an additional 3,543 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the last quarter. Finally, XTX Topco Ltd grew its position in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 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.