Frontier Group (NASDAQ:ULCC) Lifted to “Market Perform” at Raymond James

Raymond James upgraded shares of Frontier Group (NASDAQ:ULCC) from an underperform rating to a market perform rating in a research note released on Monday, Marketbeat Ratings reports.

ULCC has been the subject of several other reports. Citigroup raised their price objective on Frontier Group from $3.50 to $4.70 and gave the company a neutral rating in a research note on Monday, September 16th. TD Cowen raised their price objective on Frontier Group from $3.00 to $4.00 and gave the company a hold rating in a research note on Monday, September 16th. JPMorgan Chase & Co. downgraded Frontier Group from a neutral rating to an underweight rating in a research note on Tuesday, July 30th. Barclays dropped their price objective on Frontier Group from $7.00 to $6.00 and set an overweight rating for the company in a research note on Monday, August 12th. Finally, Bank of America dropped their price objective on Frontier Group from $5.50 to $5.00 and set a neutral rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $5.92.

Frontier Group Trading Down 4.0 %

NASDAQ:ULCC opened at $5.07 on Monday. The stock’s 50 day moving average price is $3.86 and its 200 day moving average price is $5.13. The company has a market capitalization of $1.14 billion, a PE ratio of -42.25 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. Frontier Group has a 52-week low of $2.79 and a 52-week high of $8.33.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $973.00 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. On average, research analysts anticipate that Frontier Group will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of Frontier Group during the 2nd quarter valued at $45,000. nVerses Capital LLC lifted its position in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group during the 2nd quarter valued at $58,000. Arizona State Retirement System lifted its position in shares of Frontier Group by 29.0% during the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after acquiring an additional 3,521 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring an additional 4,279 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.