Frontier Group (NASDAQ:ULCC) Stock Price Up 9.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price traded up 9.3% on Thursday . The stock traded as high as $3.98 and last traded at $3.98. 273,830 shares were traded during trading, a decline of 86% from the average session volume of 1,962,540 shares. The stock had previously closed at $3.64.

Wall Street Analyst Weigh In

ULCC has been the subject of several recent analyst reports. TD Cowen dropped their price objective on shares of Frontier Group from $6.50 to $4.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. Citigroup cut their price objective on Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Finally, Raymond James cut shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.09.

Frontier Group Price Performance

The firm has a market capitalization of $837.60 million, a price-to-earnings ratio of -31.17 and a beta of 2.49. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $3.76 and its two-hundred day moving average is $5.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in Frontier Group in the second quarter worth $45,000. nVerses Capital LLC raised its stake in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the period. Private Advisor Group LLC bought a new position in Frontier Group during the fourth quarter worth about $59,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Frontier Group by 200.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after acquiring an additional 7,782 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Frontier Group in the second quarter valued at about $58,000.

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.