Zacks Investment Research Upgrades Frontier Group (NASDAQ:ULCC) to Hold

Frontier Group (NASDAQ:ULCCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Frontier Group Holdings Inc. operates family aircraft. Frontier Group Holdings Inc. is headquartered in Denver, Colorado. “

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $20.00 price target on shares of Frontier Group in a report on Friday, April 29th. Barclays lowered their price target on Frontier Group from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, January 14th. Finally, Bank of America upgraded Frontier Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $19.00 to $18.00 in a research report on Friday, January 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group presently has an average rating of “Buy” and a consensus target price of $20.08.

Frontier Group stock opened at $9.62 on Thursday. The company has a market capitalization of $2.09 billion and a price-to-earnings ratio of -15.52. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. Frontier Group has a 12 month low of $9.42 and a 12 month high of $22.70. The business’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $13.17.

Frontier Group (NASDAQ:ULCCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.13). The business had revenue of $605.00 million for the quarter, compared to the consensus estimate of $611.66 million. Frontier Group had a negative net margin of 5.51% and a negative return on equity of 42.57%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.86) earnings per share. On average, equities research analysts predict that Frontier Group will post 0.12 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. purchased a new stake in Frontier Group in the fourth quarter worth about $31,000. Citigroup Inc. increased its position in Frontier Group by 139.2% in the third quarter. Citigroup Inc. now owns 3,961 shares of the company’s stock worth $63,000 after buying an additional 2,305 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Frontier Group in the fourth quarter worth about $63,000. Royal Bank of Canada purchased a new stake in Frontier Group in the second quarter worth about $81,000. Finally, Advisor Group Holdings Inc. increased its position in Frontier Group by 1,838.1% in the first quarter. Advisor Group Holdings Inc. now owns 10,214 shares of the company’s stock worth $115,000 after buying an additional 9,687 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

About Frontier Group (Get Rating)

Frontier Group Holdings, Inc, a low-fare airline company, provides air transportation for passengers. The company operates an airline that serves approximately 120 airports throughout the United States and international destinations in the Americas. It offers its services through direct distribution channels, including its website, mobile app, and call center.

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