Frontier Group (NASDAQ:ULCC) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. lowered shares of Frontier Group (NASDAQ:ULCC) from a neutral rating to an underweight rating in a report issued on Tuesday morning, Marketbeat reports.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft decreased their price target on Frontier Group from $7.00 to $5.00 and set a hold rating for the company in a research note on Monday, July 8th. Raymond James cut shares of Frontier Group from a market perform rating to an underperform rating in a report on Friday, July 5th. Barclays cut their target price on shares of Frontier Group from $9.00 to $7.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Susquehanna cut their target price on shares of Frontier Group from $6.00 to $4.50 and set a neutral rating on the stock in a report on Tuesday, July 16th. Finally, Citigroup cut their target price on shares of Frontier Group from $7.00 to $5.35 and set a neutral rating on the stock in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Group currently has an average rating of Hold and an average price target of $6.44.

Frontier Group Stock Down 9.4 %

NASDAQ:ULCC opened at $3.39 on Tuesday. The company has a market capitalization of $759.22 million, a price-to-earnings ratio of -28.25 and a beta of 2.50. Frontier Group has a one year low of $3.19 and a one year high of $8.45. The stock has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $5.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Frontier Group will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently made changes to their positions in the business. U S Global Investors Inc. increased its stake in shares of Frontier Group by 46.0% during the fourth quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after acquiring an additional 3,305,465 shares during the period. Vanguard Group Inc. increased its stake in shares of Frontier Group by 20.0% during the third quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock valued at $18,494,000 after acquiring an additional 636,921 shares during the period. Boston Partners increased its stake in shares of Frontier Group by 106.3% during the fourth quarter. Boston Partners now owns 380,799 shares of the company’s stock valued at $2,079,000 after acquiring an additional 196,240 shares during the period. Cruiser Capital Advisors LLC acquired a new position in shares of Frontier Group during the fourth quarter valued at approximately $253,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Frontier Group during the fourth quarter valued at approximately $111,000.

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.