Frontier Group (NASDAQ:ULCC) Rating Lowered to “Hold” at Deutsche Bank Aktiengesellschaft

Frontier Group (NASDAQ:ULCC) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They presently have a $6.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential downside of 5.66% from the company’s previous close.

ULCC has been the subject of a number of other research reports. Citigroup assumed coverage on shares of Frontier Group in a report on Thursday, December 4th. They set a “neutral” rating and a $5.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Frontier Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, December 8th. Bank of America reiterated an “underperform” rating and set a $4.00 target price (down previously from $5.00) on shares of Frontier Group in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Frontier Group in a research report on Monday, December 29th. Finally, Susquehanna lifted their target price on Frontier Group from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $6.13.

Frontier Group Price Performance

Shares of ULCC stock opened at $6.36 on Tuesday. The firm’s 50 day moving average is $5.15 and its 200-day moving average is $4.66. Frontier Group has a 1 year low of $2.89 and a 1 year high of $10.26. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -10.43 and a beta of 2.55.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 82,627 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $5.78, for a total value of $477,584.06. Following the completion of the sale, the chief executive officer owned 631,836 shares in the company, valued at $3,652,012.08. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $6.00, for a total transaction of $30,000.00. Following the transaction, the senior vice president owned 94,926 shares in the company, valued at $569,556. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 310,000 shares of company stock worth $1,700,444 over the last ninety days. Insiders own 48.00% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds have recently added to or reduced their stakes in ULCC. Caitong International Asset Management Co. Ltd acquired a new position in shares of Frontier Group in the third quarter valued at $27,000. Ameritas Investment Partners Inc. grew its stake in Frontier Group by 130.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,643 shares of the company’s stock valued at $31,000 after buying an additional 4,885 shares during the last quarter. CWM LLC grew its position in shares of Frontier Group by 165.0% in the second quarter. CWM LLC now owns 10,042 shares of the company’s stock valued at $36,000 after purchasing an additional 6,253 shares during the last quarter. MQS Management LLC acquired a new stake in Frontier Group during the 2nd quarter worth approximately $37,000. Finally, Brooklyn Investment Group boosted its stake in Frontier Group by 490.7% in the 3rd quarter. Brooklyn Investment Group now owns 10,928 shares of the company’s stock valued at $48,000 after purchasing an additional 9,078 shares during the period.

Frontier Group Company Profile

Frontier Group, trading on Nasdaq under the ticker ULCC, is the holding company for Frontier Airlines, an ultra-low-cost carrier based in Denver, Colorado. The company’s core business centers on providing no-frills air travel across a point-to-point network while generating ancillary revenue from add-on services such as baggage fees, seat selection, priority boarding and in-flight refreshments. This fare-plus-a-la-carte model allows Frontier to offer competitive base fares and maintain low operating costs.

Founded in February 1994 by industry veterans Andrew Levy and Russell Beardsmore, Frontier Airlines commenced operations with a small fleet of MD-80 aircraft.