Frontier Group (NASDAQ:ULCC) Shares Up 5.6%

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares rose 5.6% on Wednesday . The stock traded as high as $4.41 and last traded at $4.16. Approximately 555,107 shares were traded during trading, a decline of 72% from the average daily volume of 1,954,833 shares. The stock had previously closed at $3.94.

Analyst Ratings Changes

A number of brokerages recently weighed in on ULCC. Susquehanna lowered their price objective on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Barclays lowered their target price on Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, TD Cowen dropped their target price on Frontier Group from $6.50 to $4.00 and set a “hold” rating on the stock in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Frontier Group has an average rating of “Hold” and an average target price of $6.09.

Frontier Group Stock Performance

The stock has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $5.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. Frontier Group’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. As a group, equities analysts forecast that Frontier Group Holdings, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

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

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.