Frontier Group (NASDAQ:ULCC) Stock Rating Reaffirmed by Bank of America

Frontier Group (NASDAQ:ULCCGet Rating)‘s stock had its “buy” rating restated by equities researchers at Bank of America in a research note issued to investors on Tuesday, The Fly reports. They presently have a $19.00 price objective on the stock. Bank of America‘s price target indicates a potential upside of 31.58% from the company’s previous close.

Several other equities analysts also recently weighed in on ULCC. Raymond James reaffirmed a “maintains” rating on shares of Frontier Group in a research report on Thursday, July 28th. Evercore ISI decreased their target price on Frontier Group from $20.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $20.00 price objective on shares of Frontier Group in a research note on Friday, April 29th. Susquehanna reduced their price objective on Frontier Group from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Tuesday, July 12th. Finally, Susquehanna Bancshares cut their price target on Frontier Group from $15.00 to $13.00 and set a “positive” rating for the company in a research note on Tuesday, July 12th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.10.

Frontier Group Price Performance

Frontier Group stock opened at $14.44 on Tuesday. The company’s fifty day moving average price is $10.63 and its 200 day moving average price is $11.19. Frontier Group has a 1 year low of $8.19 and a 1 year high of $17.50. The stock has a market capitalization of $3.14 billion, a P/E ratio of -22.56 and a beta of 1.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.58 and a current ratio of 0.62.

Frontier Group (NASDAQ:ULCCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Frontier Group had a negative return on equity of 34.00% and a negative net margin of 5.01%. The company had revenue of $909.00 million for the quarter, compared to analyst estimates of $865.76 million. During the same quarter last year, the firm posted ($0.24) EPS. The firm’s revenue for the quarter was up 65.3% on a year-over-year basis. As a group, equities research analysts anticipate that Frontier Group will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Frontier Group during the 4th quarter valued at $63,000. Qube Research & Technologies Ltd acquired a new position in shares of Frontier Group in the 4th quarter worth $262,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Frontier Group in the 4th quarter worth $151,000. Arizona State Retirement System purchased a new position in shares of Frontier Group during the fourth quarter valued at $157,000. Finally, Northern Trust Corp grew its holdings in shares of Frontier Group by 3.5% during the fourth quarter. Northern Trust Corp now owns 326,806 shares of the company’s stock valued at $4,435,000 after buying an additional 11,031 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Frontier Group Company Profile

(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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