Frontier Group (NASDAQ:ULCC) Stock Rating Raised to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group (NASDAQ:ULCC) from a hold rating to a buy rating in a report issued on Thursday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $10.00 price target on the stock, up from their prior price target of $7.00.

Several other equities analysts have also weighed in on the stock. Susquehanna increased their price target on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Frontier Group in a research report on Wednesday, October 28th. Barclays lowered their price objective on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. Zacks Research cut shares of Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, UBS Group increased their target price on shares of Frontier Group from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.07.

Frontier Group Stock Up 0.4%

ULCC stock opened at $7.12 on Thursday. The stock’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $5.47. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 10.68. Frontier Group has a 1-year low of $3.02 and a 1-year high of $8.40. The stock has a market cap of $1.64 billion, a P/E ratio of -3.98 and a beta of 2.71.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned ($0.34) EPS. The business’s revenue for the quarter was up 52.9% on a year-over-year basis. Analysts expect that Frontier Group will post -0.33 EPS for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 7,500 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $6.00, for a total transaction of $45,000.00. Following the transaction, the senior vice president owned 79,675 shares of the company’s stock, valued at $478,050. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 48.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Frontier Group during the 2nd quarter valued at approximately $47,205,000. U S Global Investors Inc. boosted its holdings in Frontier Group by 63.9% in the 1st quarter. U S Global Investors Inc. now owns 6,781,412 shares of the company’s stock worth $23,938,000 after buying an additional 2,643,448 shares during the period. Silver Point Capital L.P. purchased a new position in Frontier Group in the 2nd quarter valued at approximately $12,141,850. Bank of America Corp DE purchased a new position in Frontier Group in the 2nd quarter valued at approximately $7,337,000. Finally, GSA Capital Partners LLP purchased a new position in Frontier Group in the 2nd quarter valued at approximately $4,373,000.

Frontier Group Company Profile

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.