Frontier Group (NASDAQ:ULCC) Shares Gap Down to $3.87

Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down prior to trading on Tuesday . The stock had previously closed at $3.87, but opened at $3.69. Frontier Group shares last traded at $3.95, with a volume of 103,823 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ULCC shares. Evercore ISI increased their price target on Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. TD Cowen decreased their price target on Frontier Group from $6.50 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday. Citigroup decreased their target price on Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Frontier Group from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.76.

Frontier Group Stock Performance

The firm has a 50 day moving average of $4.74 and a 200-day moving average of $5.96. The stock has a market capitalization of $837.61 million, a PE ratio of -31.16 and a beta of 2.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $859.21 million. During the same period last year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts forecast that Frontier Group Holdings, Inc. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ULCC. Blue Trust Inc. acquired a new position in shares of Frontier Group during the 2nd quarter valued at about $45,000. nVerses Capital LLC increased its holdings in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Frontier Group during the 4th quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Frontier Group by 200.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after acquiring an additional 7,782 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Frontier Group by 91.0% during the 4th quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock valued at $92,000 after acquiring an additional 8,067 shares during 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.