Frontier Group (NASDAQ:ULCC) Stock Price Up 9.3%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) traded up 9.3% during trading on Thursday . The stock traded as high as $3.98 and last traded at $3.98. 273,830 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,962,540 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

A number of research firms have recently commented on ULCC. TD Cowen reduced their price objective on shares of Frontier Group from $6.50 to $4.00 and set a "hold" rating for the company in a report on Wednesday, July 17th. Raymond James lowered Frontier Group from a "market perform" rating to an "underperform" rating in a research note on Friday, July 5th. Barclays cut their price objective on 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 shares of Frontier Group from a "neutral" rating to an "underweight" rating in a report on Tuesday, July 30th. Finally, Citigroup cut their price target on shares of Frontier Group from $7.00 to $5.35 and set a "neutral" rating for the company in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.09.

Frontier Group Stock Performance

The stock's 50 day simple moving average is $3.78 and its two-hundred day simple moving average is $5.53. The company has a market capitalization of $864.25 million, a P/E ratio of -32.08 and a beta of 2.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. As a group, research analysts expect that Frontier Group Holdings, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners boosted its position in shares of Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company's stock worth $8,518,000 after purchasing an additional 672,471 shares during the last quarter. Cruiser Capital Advisors LLC acquired a new position in shares of Frontier Group during the 4th quarter worth about $253,000. Bleakley Financial Group LLC increased its stake in shares of Frontier Group by 23.3% in the 1st quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company's stock valued at $204,000 after acquiring an additional 4,756 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Frontier Group in the 1st quarter valued at approximately $293,000. Finally, Russell Investments Group Ltd. boosted its stake in Frontier Group by 11.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company's stock worth $8,956,000 after acquiring an additional 109,418 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.