Frontier Group Holdings, Inc. (NASDAQ:ULCC) Receives Average Recommendation of “Hold” from Brokerages

Frontier Group Holdings, Inc. (NASDAQ:ULCC) has been assigned an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.6111.

Several equities analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of Frontier Group from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, May 19th. UBS Group reduced their price objective on Frontier Group from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Bank of America decreased their price objective on Frontier Group from $4.75 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, July 1st.

Frontier Group Price Performance

ULCC opened at $4.52 on Monday. The stock has a market capitalization of $1.03 billion, a P/E ratio of -28.25 and a beta of 2.62. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 0.53. Frontier Group has a 12-month low of $2.89 and a 12-month high of $10.26. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $4.79.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $951.92 million. Frontier Group had a negative return on equity of 12.56% and a negative net margin of 0.87%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. Equities analysts predict that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the completion of the sale, the senior vice president directly owned 11,912 shares in the company, valued at $46,337.68. This trade represents a 50.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 48.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SkyView Investment Advisors LLC boosted its holdings in shares of Frontier Group by 3.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 556,259 shares of the company’s stock valued at $2,009,000 after acquiring an additional 18,544 shares during the last quarter. Voleon Capital Management LP boosted its holdings in Frontier Group by 439.4% in the second quarter. Voleon Capital Management LP now owns 208,713 shares of the company’s stock worth $758,000 after purchasing an additional 170,021 shares during the last quarter. Par Capital Management Inc. grew its position in Frontier Group by 1.2% in the 2nd quarter. Par Capital Management Inc. now owns 2,181,100 shares of the company’s stock worth $7,917,000 after purchasing an additional 25,000 shares during the period. IHT Wealth Management LLC purchased a new stake in Frontier Group during the 2nd quarter valued at $87,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Frontier Group by 2,348.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 431,179 shares of the company’s stock valued at $1,565,000 after buying an additional 413,568 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.