Frontier Group (NASDAQ:ULCC) Shares Gap Up to $4.06

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped up prior to trading on Thursday . The stock had previously closed at $4.06, but opened at $4.19. Frontier Group shares last traded at $4.26, with a volume of 399,173 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ULCC. Susquehanna lowered their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Bank of America lowered their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup cut their target price on shares of Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Raymond James downgraded shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, Barclays cut their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.99.

Frontier Group Stock Performance

The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $967.51 million, a PE ratio of -35.91 and a beta of 2.49. The business’s 50 day moving average is $3.69 and its two-hundred day moving average is $5.39.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate 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 business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Frontier Group Holdings, Inc. will post -0.08 EPS for the current year.

Institutional Trading of Frontier Group

A number of institutional investors and hedge funds have recently bought and sold shares of ULCC. Private Advisor Group LLC bought a new stake in Frontier Group in the 4th quarter worth approximately $59,000. Boston Partners increased its position in Frontier Group by 106.3% in the fourth quarter. Boston Partners now owns 380,799 shares of the company’s stock worth $2,079,000 after purchasing an additional 196,240 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Frontier Group by 91.0% during the fourth quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock valued at $92,000 after purchasing an additional 8,067 shares in the last quarter. Jade Capital Advisors LLC lifted its position in Frontier Group by 2,400.0% during the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock valued at $2,730,000 after purchasing an additional 480,000 shares during the last quarter. Finally, Cruiser Capital Advisors LLC purchased a new position in shares of Frontier Group in the 4th quarter worth $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.