Barclays Lowers Frontier Group (NASDAQ:ULCC) Price Target to $6.00

Frontier Group (NASDAQ:ULCC) had its price objective cut by investment analysts at Barclays from $7.00 to $6.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 96.08% from the company’s current price.

ULCC has been the subject of several other reports. Citigroup decreased their price objective on shares of Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Susquehanna dropped their price objective on Frontier Group from $6.00 to $4.50 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. 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.com, the stock has an average rating of “Hold” and a consensus target price of $6.24.

Frontier Group Stock Up 7.7 %

ULCC stock opened at $3.06 on Monday. The stock has a market cap of $686.91 million, a P/E ratio of -25.50 and a beta of 2.50. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $4.36 and its 200-day moving average price is $5.88. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.11%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, equities research analysts forecast that Frontier Group will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Frontier Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Frontier Group by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock valued at $18,494,000 after purchasing an additional 636,921 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Frontier Group during the fourth quarter worth $111,000. Simplicity Solutions LLC bought a new position in Frontier Group in the fourth quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Frontier Group by 200.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after purchasing an additional 7,782 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Frontier Group by 215.0% during the fourth quarter. Russell Investments Group Ltd. now owns 994,874 shares of the company’s stock valued at $5,432,000 after acquiring an additional 679,075 shares during the period.

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.