Frontier Group (NASDAQ:ULCC) Trading Down 5%

Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded down 5% on Tuesday . The company traded as low as $3.77 and last traded at $3.79. 378,676 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,957,308 shares. The stock had previously closed at $3.99.

Analyst Upgrades and Downgrades

ULCC has been the topic of several recent analyst reports. TD Cowen cut their target price 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. Citigroup dropped their price objective 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. Barclays decreased their target price on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Susquehanna dropped their price target on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.09.

Frontier Group Stock Up 8.6 %

The company’s 50-day simple moving average is $3.71 and its two-hundred day simple moving average is $5.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The firm has a market capitalization of $987.65 million, a P/E ratio of -36.58 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, research analysts expect that Frontier Group Holdings, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently modified their holdings of ULCC. Boston Partners lifted its position in shares of Frontier Group by 176.6% in the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after buying an additional 672,471 shares in the last quarter. Cruiser Capital Advisors LLC bought a new position in shares of Frontier Group during the 4th quarter valued at approximately $253,000. Bleakley Financial Group LLC boosted its position in shares of Frontier Group by 23.3% during the 1st quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock valued at $204,000 after acquiring an additional 4,756 shares during the last quarter. Norden Group LLC purchased a new position in shares of Frontier Group in the first quarter valued at $293,000. Finally, Russell Investments Group Ltd. increased its position in Frontier Group by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after purchasing an additional 109,418 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.