Citigroup Cuts Frontier Group (NASDAQ:ULCC) Price Target to $22.00

Frontier Group (NASDAQ:ULCC) had its price objective decreased by Citigroup from $24.00 to $22.00 in a report released on Wednesday, The Fly reports. Citigroup currently has a buy rating on the stock.

ULCC has been the subject of several other reports. Morgan Stanley dropped their target price on Frontier Group from $25.00 to $23.00 and set an overweight rating for the company in a research report on Tuesday, September 14th. Susquehanna assumed coverage on Frontier Group in a research report on Tuesday, July 13th. They issued a positive rating and a $20.00 target price for the company. Zacks Investment Research downgraded Frontier Group from a hold rating to a sell rating in a research report on Wednesday, August 4th. Finally, Susquehanna Bancshares assumed coverage on Frontier Group in a research report on Tuesday, July 13th. They set a positive rating and a $15.61 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Frontier Group has an average rating of Buy and an average target price of $22.42.

NASDAQ:ULCC opened at $15.78 on Wednesday. The company has a 50-day simple moving average of $15.31. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. Frontier Group has a twelve month low of $13.71 and a twelve month high of $22.70.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Wednesday, August 4th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. The firm had revenue of $550.00 million during the quarter, compared to the consensus estimate of $539.17 million. The company’s revenue was up 183.5% compared to the same quarter last year. Equities analysts predict that Frontier Group will post -1.04 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Citigroup Inc. bought a new stake in Frontier Group in the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Frontier Group in the second quarter worth approximately $47,000. Royal Bank of Canada bought a new stake in Frontier Group in the second quarter worth approximately $81,000. Wolverine Trading LLC bought a new stake in Frontier Group in the second quarter worth approximately $178,000. Finally, Metropolitan Life Insurance Co NY bought a new stake in Frontier Group in the second quarter worth approximately $193,000. Institutional investors and hedge funds own 17.43% of the company’s stock.

Frontier Group Company Profile

Frontier Group Holdings, Inc engages in the operation of passenger airline. It offers flights throughout the United States and selected international Mexico, and the Caribbean. The company was founded on September 2013 and is headquartered in Denver, CO.

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