Frontier Group (NASDAQ:ULCC) Raised to “Buy” at Deutsche Bank Aktiengesellschaft

Frontier Group (NASDAQ:ULCC) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $8.00 price target on the stock, up from their previous price target of $6.00. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 23.46% from the company’s current price.

ULCC has been the subject of several other reports. Evercore ISI increased their target price on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Morgan Stanley lowered their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup raised their price target on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Susquehanna boosted their target price on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.46.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $6.48 on Wednesday. The stock’s 50-day simple moving average is $6.17 and its 200 day simple moving average is $4.96. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33. The firm has a market capitalization of $1.46 billion, a PE ratio of -162.00 and a beta of 2.43. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) EPS. On average, analysts anticipate that Frontier Group will post 0.04 EPS for the current fiscal year.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. The trade was a 22.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Josh T. Connor sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares in the company, valued at $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 81.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently bought and sold shares of ULCC. Price T Rowe Associates Inc. MD increased its position in Frontier Group by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after buying an additional 2,746 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after purchasing an additional 3,521 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after buying an additional 3,543 shares during the period. Blue Trust Inc. lifted its holdings in shares of Frontier Group by 41.2% in the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares during the period. Finally, XTX Topco Ltd increased its stake in shares of Frontier Group by 10.6% in the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 shares in the last quarter.

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.