Citigroup Boosts Frontier Group (NASDAQ:ULCC) Price Target to $4.70

Frontier Group (NASDAQ:ULCC) had its price target upped by Citigroup from $3.50 to $4.70 in a research report report published on Monday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts also recently weighed in on the company. 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. Susquehanna dropped their target price on shares of Frontier Group from $4.50 to $3.00 and set a neutral rating on the stock in a report on Friday, August 16th. Raymond James downgraded shares of Frontier Group from a market perform rating to an underperform rating in a research report on Friday, July 5th. Bank of America dropped their price objective on shares of Frontier Group from $5.50 to $5.00 and set a neutral rating on the stock in a research note on Friday, September 13th. Finally, Barclays decreased their target price on shares of Frontier Group from $7.00 to $6.00 and set an overweight rating for the company in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $5.92.

Frontier Group Price Performance

Shares of ULCC stock opened at $4.30 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. Frontier Group has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The firm has a market cap of $965.26 million, a P/E ratio of -35.83 and a beta of 2.49. The business’s 50 day moving average price is $3.71 and its 200-day moving average price is $5.32.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Frontier Group will post -0.07 earnings per share for the current year.

Institutional Trading of Frontier Group

A number of institutional investors and hedge funds have recently modified their holdings of ULCC. AlTi Global Inc. bought a new stake in shares of Frontier Group in the second quarter worth approximately $21,222,000. Boston Partners raised its stake in Frontier Group by 176.6% during the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after buying an additional 672,471 shares during the last quarter. Jade Capital Advisors LLC lifted its holdings in shares of Frontier Group by 2,400.0% during the 4th quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock valued at $2,730,000 after buying an additional 480,000 shares during the period. Marshall Wace LLP purchased a new position in shares of Frontier Group in the 2nd quarter worth $1,011,000. Finally, Algert Global LLC grew its holdings in shares of Frontier Group by 119.0% in the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after acquiring an additional 136,159 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.