Frontier Group (NASDAQ:ULCC) Shares Gap Up Following Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s share price gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $4.70 to $7.15. The stock had previously closed at $6.72, but opened at $7.00. Citigroup currently has a neutral rating on the stock. Frontier Group shares last traded at $6.77, with a volume of 586,066 shares.

ULCC has been the topic of a number of other reports. Susquehanna boosted their target price on Frontier Group from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Raymond James raised Frontier Group from an "underperform" rating to a "market perform" rating in a report on Monday, September 30th. Barclays reduced their target price on Frontier Group from $7.00 to $6.00 and set an "overweight" rating on the stock 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Frontier Group from $5.00 to $4.00 and set a "hold" rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Group has a consensus rating of "Hold" and a consensus price target of $6.02.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, 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 value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 81.50% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Large investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Frontier Group in the second quarter valued at about $45,000. nVerses Capital LLC raised its position in shares of Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company's stock worth $50,000 after acquiring an additional 6,100 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Frontier Group during the third quarter worth about $55,000. 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 shares of Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock worth $77,000 after acquiring an additional 3,521 shares during the last quarter.

Frontier Group Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The company has a market capitalization of $1.53 billion, a P/E ratio of -55.75 and a beta of 2.55. The stock has a 50-day moving average price of $4.59 and a 200-day moving average price of $4.98.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.31 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. On average, research analysts predict that Frontier Group Holdings, Inc. will post 0.08 EPS for the current fiscal 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.