Frontier Group (NASDAQ:ULCC) Shares Gap Up to $4.06

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.06, but opened at $4.19. Frontier Group shares last traded at $4.26, with a volume of 399,173 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on ULCC shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Barclays decreased their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, Susquehanna cut 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 report on Friday, August 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.09.

Frontier Group Trading Up 6.9 %

The firm’s fifty day simple moving average is $3.71 and its 200 day simple moving average is $5.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. The stock has a market capitalization of $971.98 million, a P/E ratio of -36.17 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating 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%. Frontier Group’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, equities research analysts forecast that Frontier Group Holdings, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Frontier Group

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. acquired a new stake in Frontier Group in the second quarter worth $45,000. nVerses Capital LLC lifted its stake 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 buying an additional 6,100 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Frontier Group during the second quarter worth about $58,000. Private Advisor Group LLC purchased a new stake in Frontier Group during the fourth quarter worth about $59,000. Finally, Arizona State Retirement System boosted its stake in Frontier Group by 29.0% in the second 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.

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.