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

Frontier Group (NASDAQ:ULCC) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a $8.00 target price on the stock, up from their previous target price of $6.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 33.11% from the company’s current price.

A number of other analysts also recently issued reports on ULCC. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Bank of America decreased their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Susquehanna lifted their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group began coverage on Frontier Group in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price on the stock. Finally, Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.62.

Frontier Group Stock Up 1.5 %

ULCC stock opened at $6.01 on Wednesday. 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 $1.35 billion, a PE ratio of -150.25 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. The stock has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $4.93.

Frontier Group (NASDAQ:ULCC) last posted 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 company had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Frontier Group will post 0.04 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Frontier Group

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of Frontier Group in the 2nd quarter worth approximately $45,000. nVerses Capital LLC raised its holdings in Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after purchasing an additional 6,100 shares in the last quarter. Victory Capital Management Inc. bought a new position in Frontier Group in the third quarter worth $54,000. Ballentine Partners LLC purchased a new position in Frontier Group during the third quarter valued at $55,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Frontier Group during the 2nd quarter valued at $58,000.

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.