Frontier Group (NASDAQ:ULCC – Get Free Report) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Thursday, Marketbeat reports. The brokerage presently has a $10.00 target price on the stock, up from their prior target price of $7.00. Deutsche Bank Aktiengesellschaft‘s target price points to a potential upside of 34.59% from the stock’s previous close.
A number of other analysts have also weighed in on the company. Barclays cut their price objective on Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. UBS Group boosted their target price on Frontier Group from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a report on Wednesday, October 28th. Susquehanna increased their price target on Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Finally, Zacks Research cut Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.07.
Read Our Latest Stock Report on Frontier Group
Frontier Group Trading Up 4.4%
Shares of ULCC traded up $0.31 during midday trading on Thursday, hitting $7.43. 2,758,213 shares of the stock were exchanged, compared to its average volume of 3,700,336. Frontier Group has a 52-week low of $3.02 and a 52-week high of $8.40. The company has a debt-to-equity ratio of 10.68, a quick ratio of 0.57 and a current ratio of 0.62. The stock has a fifty day simple moving average of $5.84 and a 200 day simple moving average of $5.48. The firm has a market cap of $1.71 billion, a P/E ratio of -4.15 and a beta of 2.71.
Frontier Group (NASDAQ:ULCC – Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.24. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. Frontier Group’s revenue was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.34) EPS. On average, research analysts anticipate that Frontier Group will post -0.33 EPS for the current fiscal year.
Insider Activity
In other news, SVP Steve Schuller sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $6.00, for a total transaction of $45,000.00. Following the sale, the senior vice president owned 79,675 shares of the company’s stock, valued at approximately $478,050. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 48.00% of the company’s stock.
Institutional Trading of Frontier Group
Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its position in shares of Frontier Group by 2.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the company’s stock valued at $439,000 after buying an additional 1,498 shares during the last quarter. Signaturefd LLC lifted its position in Frontier Group by 81.7% in the third quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock valued at $36,000 after acquiring an additional 2,707 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Frontier Group by 3.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,787 shares of the company’s stock valued at $734,000 after acquiring an additional 3,461 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Frontier Group in the second quarter valued at $28,000. Finally, Allworth Financial LP purchased a new position in shares of Frontier Group during the second quarter worth about $43,000.
About Frontier Group
Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.
Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.
Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.
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