Frontier Group (NASDAQ:ULCC) Price Target Increased to $4.70 by Analysts at Citigroup

Frontier Group (NASDAQ:ULCC) had its target price upped by Citigroup from $3.50 to $4.70 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 5.15% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays cut their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. 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 report on Friday. 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 note on Friday, August 16th. Finally, TD Cowen increased their target price on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday. Two investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.92.

Frontier Group Stock Performance

NASDAQ ULCC traded up $0.16 during trading hours on Monday, reaching $4.47. The company’s stock had a trading volume of 1,683,058 shares, compared to its average volume of 1,992,409. The stock has a market cap of $1.00 billion, a PE ratio of -37.25 and a beta of 2.49. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.33. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $3.69 and a 200 day simple moving average of $5.37.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data 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. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The business had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Frontier Group will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Frontier Group

A number of institutional investors have recently bought and sold shares of the company. AlTi Global Inc. acquired a new position in Frontier Group during the second quarter worth $21,222,000. Boston Partners grew 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 purchasing an additional 672,471 shares in the last quarter. Jade Capital Advisors LLC increased its position in shares of Frontier Group by 2,400.0% during the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock valued at $2,730,000 after purchasing an additional 480,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Frontier Group in the second quarter valued at $1,011,000. Finally, Algert Global LLC lifted its position in Frontier Group by 119.0% in the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after purchasing an additional 136,159 shares during the period.

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.