Deutsche Bank Aktiengesellschaft Upgrades Frontier Group (NASDAQ:ULCC) to Buy

Frontier Group (NASDAQ:ULCC) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has a $10.00 price objective on the stock. Deutsche Bank Aktiengesellschaft‘s price objective indicates a potential upside of 41.04% from the stock’s current price.

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

Frontier Group Trading Up 9.6%

Shares of ULCC stock opened at $7.09 on Thursday. 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 twelve month low of $3.02 and a twelve month high of $8.40. The company’s 50-day moving average price is $5.79 and its 200-day moving average price is $5.46. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -3.96 and a beta of 2.71.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.24. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. Frontier Group’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. As a group, equities analysts predict that Frontier Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Steve Schuller sold 7,500 shares of the firm’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 completion of the transaction, the senior vice president directly owned 79,675 shares in the company, valued at $478,050. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 48.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of Frontier Group by 2.1% during the third quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the company’s stock worth $439,000 after purchasing an additional 1,498 shares in the last quarter. Signaturefd LLC boosted its position in Frontier Group by 81.7% in the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock valued at $36,000 after buying an additional 2,707 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Frontier Group by 3.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,787 shares of the company’s stock valued at $734,000 after buying an additional 3,461 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Frontier Group in the second quarter worth $28,000. Finally, Allworth Financial LP purchased a new stake in shares of Frontier Group during the second quarter worth $43,000.

About Frontier Group

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.