Frontier Group (NASDAQ:ULCC) Stock Price Up 7.9%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $3.97 and last traded at $3.96. 574,528 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,998,919 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup decreased their price objective on Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lowered their price target on Frontier Group from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Barclays decreased their target price on shares of Frontier Group from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. TD Cowen lowered their target price on shares of Frontier Group from $6.50 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Finally, Susquehanna cut their price target on shares of Frontier Group from $6.00 to $4.50 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.76.

Frontier Group Stock Performance

The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. The stock has a market cap of $909.28 million, a price-to-earnings ratio of -33.83 and a beta of 2.51. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $5.99.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The firm had revenue of $865.00 million for the quarter, compared to the consensus estimate of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. Analysts forecast that Frontier Group Holdings, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Frontier Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. lifted its holdings in shares of Frontier Group by 46.0% during the fourth quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock worth $57,241,000 after purchasing an additional 3,305,465 shares during the period. Vanguard Group Inc. lifted its stake in shares of Frontier Group by 20.0% in the third quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after acquiring an additional 636,921 shares during the period. Boston Partners boosted its holdings in Frontier Group by 106.3% in the fourth quarter. Boston Partners now owns 380,799 shares of the company’s stock valued at $2,079,000 after acquiring an additional 196,240 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Frontier Group during the 4th quarter valued at approximately $253,000. Finally, Cruiser Capital Advisors LLC bought a new position in Frontier Group during the 4th quarter worth approximately $253,000.

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.