Frontier Group (NASDAQ:ULCC) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group (NASDAQ:ULCC) from a hold rating to a buy rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has $8.00 price target on the stock, up from their previous price target of $6.00.

Other research analysts have also issued reports about the stock. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna boosted their price target on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America dropped their price target 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, September 13th. TD Cowen boosted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Finally, Evercore ISI upped their target price on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.46.

Frontier Group Stock Performance

NASDAQ ULCC opened at $6.31 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group has a 1 year low of $2.79 and a 1 year high of $8.33. The company has a market capitalization of $1.42 billion, a PE ratio of -157.71 and a beta of 2.43. The company has a fifty day moving average of $6.18 and a two-hundred day moving average of $4.96.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same period in the previous year, the business earned ($0.14) EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts expect that Frontier Group will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

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

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of ULCC. AlTi Global Inc. purchased a new position in shares of Frontier Group during the second quarter valued at approximately $21,222,000. U S Global Investors Inc. increased its position in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC increased its position in Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 shares during the last quarter. Geode Capital Management LLC increased its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 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.