Frontier Group (NASDAQ:ULCC) Lowered to Hold Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group (NASDAQ:ULCC) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $8.00 price target on the stock, down from their prior price target of $12.00.

Several other research firms have also recently issued reports on ULCC. Morgan Stanley upped their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Susquehanna raised their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. UBS Group raised their target price on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.74.

Frontier Group Price Performance

ULCC stock opened at $6.71 on Tuesday. The firm has a market cap of $1.52 billion, a P/E ratio of 18.64 and a beta of 2.37. Frontier Group has a 1 year low of $2.79 and a 1 year high of $10.26. The stock has a 50-day simple moving average of $8.10 and a 200-day simple moving average of $6.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, equities analysts predict that Frontier Group will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 845,830 shares of company stock valued at $6,812,139. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after buying an additional 26,682 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Frontier Group by 31.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock worth $17,042,000 after purchasing an additional 578,151 shares in the last quarter. Towle & Co. increased its position in shares of Frontier Group by 6.1% during the fourth quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after purchasing an additional 134,723 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Frontier Group by 835.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock valued at $12,101,000 after purchasing an additional 1,520,094 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Frontier Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock worth $11,564,000 after purchasing an additional 35,355 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.