Frontier Group (NASDAQ:ULCC) Price Target Raised to $4.70

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

A number of other analysts have also weighed in on ULCC. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. TD Cowen increased their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday. Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Susquehanna reduced their price objective on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Barclays lowered their target price 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.92.

Frontier Group Price Performance

Shares of Frontier Group stock traded up $0.16 during mid-day trading on Monday, reaching $4.47. 1,683,058 shares of the stock were exchanged, compared to its average volume of 1,992,409. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -37.25 and a beta of 2.49. Frontier Group has a fifty-two week low of $2.79 and a fifty-two 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 firm 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 announced its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business 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%. Frontier Group’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, sell-side analysts predict that Frontier Group will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new stake in Frontier Group in the 2nd quarter valued at $45,000. nVerses Capital LLC lifted its holdings in shares of Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after purchasing an additional 6,100 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Frontier Group during the fourth quarter worth about $59,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group during the second quarter worth about $58,000. Finally, Arizona State Retirement System raised its position in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after buying an additional 3,521 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.