Frontier Group (NASDAQ:ULCC) PT Lowered to $7.00 at Barclays

Frontier Group (NASDAQ:ULCC) had its price target cut by Barclays from $9.00 to $7.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. Raymond James lowered Frontier Group from a market perform rating to an underperform rating in a research report on Friday, July 5th. TD Cowen lowered their price target on Frontier Group from $8.00 to $6.50 and set a hold rating for the company in a report on Friday, May 3rd. UBS Group started coverage on shares of Frontier Group in a research note on Wednesday, March 20th. They issued a neutral rating and a $8.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Frontier Group from $7.00 to $5.00 and set a hold rating for the company in a research note on Monday, July 8th. Finally, Evercore ISI boosted their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the stock an in-line rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $7.10.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC opened at $4.25 on Wednesday. Frontier Group has a 1 year low of $3.19 and a 1 year high of $10.55. The business has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $6.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The business had revenue of $865.00 million during the quarter, compared to analyst estimates of $859.21 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Frontier Group will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Frontier Group

A number of large investors have recently made changes to their positions in ULCC. Vanguard Group Inc. increased its position in shares of Frontier Group by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock valued at $18,494,000 after acquiring an additional 636,921 shares during the period. Wealthsource Partners LLC increased its position in shares of Frontier Group by 20.3% in the 4th quarter. Wealthsource Partners LLC now owns 113,711 shares of the company’s stock valued at $621,000 after acquiring an additional 19,213 shares during the period. Good Life Advisors LLC acquired a new position in shares of Frontier Group in the 4th quarter valued at $253,000. U S Global Investors Inc. increased its position in shares of Frontier Group by 46.0% in the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after acquiring an additional 3,305,465 shares during the period. Finally, Bleakley Financial Group LLC acquired a new position in shares of Frontier Group in the 4th quarter valued at $111,000.

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.