Frontier Group Holdings, Inc. (NASDAQ:ULCC – Get Free Report)’s share price dropped 4.2% during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $7.00 to $5.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Frontier Group traded as low as $4.32 and last traded at $4.34. Approximately 352,567 shares changed hands during trading, a decline of 83% from the average daily volume of 2,033,119 shares. The stock had previously closed at $4.53.
A number of other brokerages also recently issued reports on ULCC. Barclays increased their price target on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. TD Cowen reduced their price target on Frontier Group from $8.00 to $6.50 and set a “hold” rating for the company in a report on Friday, May 3rd. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday. UBS Group started coverage on Frontier Group in a research note on Wednesday, March 20th. They set a “neutral” rating and a $8.00 target price for the company. Finally, Evercore ISI lifted their price target on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.28.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in shares of Frontier Group by 632.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after acquiring an additional 4,980 shares during the last quarter. Vanguard Group Inc. raised its stake in Frontier Group by 20.0% during the third quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after purchasing an additional 636,921 shares during the period. Wealthsource Partners LLC boosted its holdings in Frontier Group by 20.3% in the 4th quarter. Wealthsource Partners LLC now owns 113,711 shares of the company’s stock valued at $621,000 after purchasing an additional 19,213 shares during the last quarter. Good Life Advisors LLC purchased a new stake in shares of Frontier Group in the 4th quarter valued at approximately $253,000. Finally, U S Global Investors Inc. raised its position in shares of Frontier Group by 46.0% during the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after buying an additional 3,305,465 shares during the period.
Frontier Group Stock Down 4.9 %
The stock has a market capitalization of $965.27 million, a price-to-earnings ratio of -36.08 and a beta of 2.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.50 and a quick ratio of 0.46. The business has a fifty day moving average of $5.48 and a 200 day moving average of $6.14.
Frontier Group (NASDAQ:ULCC – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. The business had revenue of $865.00 million for the quarter, compared to analyst estimates of $859.21 million. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.5 earnings per share for the current year.
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.