Frontier Group (NASDAQ:ULCC) Upgraded by Deutsche Bank Aktiengesellschaft to "Buy" Rating

Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group (NASDAQ:ULCC - Free Report) from a hold rating to a buy rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $8.00 price objective on the stock, up from their prior price objective of $6.00.

Several other analysts have also recently issued reports on ULCC. UBS Group assumed coverage on Frontier Group in a research note on Tuesday, November 26th. They issued a "neutral" rating and a $6.00 price objective on the stock. Morgan Stanley reduced their price target on Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Barclays boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Raymond James raised shares of Frontier Group from an "underperform" rating to a "market perform" rating in a report on Monday, September 30th. Finally, Citigroup boosted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Frontier Group presently has a consensus rating of "Hold" and a consensus price target of $6.62.

Frontier Group Trading Up 14.6 %

Frontier Group stock traded up $0.88 during midday trading on Wednesday, reaching $6.89. 5,094,676 shares of the stock traded hands, compared to its average volume of 2,151,725. The firm has a market cap of $1.55 billion, a PE ratio of -160.00 and a beta of 2.43. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $4.93. Frontier Group has a 12-month low of $2.79 and a 12-month high of $8.33.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analysts' expectations of $943.30 million. During the same period in the prior year, the business earned ($0.14) EPS. The business's quarterly revenue was up 5.9% on a year-over-year basis. Research analysts expect that Frontier Group will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares of the company's stock, valued at $204,210. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 81.50% of the company's stock.

Institutional Trading of Frontier Group

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Frontier Group by 11.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company's stock worth $211,000 after acquiring an additional 2,746 shares during the period. SG Americas Securities LLC purchased a new position in Frontier Group during the second quarter worth about $659,000. Blue Trust Inc. acquired a new stake in Frontier Group in the second quarter valued at about $45,000. Bank of New York Mellon Corp lifted its position in Frontier Group by 24.3% in the second quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company's stock valued at $643,000 after purchasing an additional 25,523 shares during the period. Finally, nVerses Capital LLC boosted its holdings in Frontier Group by 152.5% in the 2nd 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.

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.