Fintel reports that on September 18, 2023, Evercore ISI Group downgraded their outlook for Frontier Group Holdings (NASDAQ:ULCC) from Outperform to Neutral.

Analyst Price Forecast Suggests 150.87% Upside

As of August 31, 2023, the average one-year price target for Frontier Group Holdings is 12.92. The forecasts range from a low of 9.09 to a high of $18.90. The average price target represents an increase of 150.87% from its latest reported closing price of 5.15.

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The projected annual revenue for Frontier Group Holdings is 4,246MM, an increase of 17.07%. The projected annual non-GAAP EPS is 1.25.

What is the Fund Sentiment?

There are 254 funds or institutions reporting positions in Frontier Group Holdings. This is a decrease of 6 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to ULCC is 0.46%, an increase of 7.55%. Total shares owned by institutions increased in the last three months by 1.95% to 228,771K shares. The put/call ratio of ULCC is 0.49, indicating a bullish outlook.

What are Other Shareholders Doing?

Indigo Partners holds 178,834K shares representing 81.04% ownership of the company. No change in the last quarter.

U S Global Investors holds 5,575K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

JETS – U.S. Global Jets ETF holds 5,575K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 5,008K shares, representing an increase of 10.18%. The firm increased its portfolio allocation in ULCC by 6.82% over the last quarter.

Ancient Art holds 5,227K shares representing 2.37% ownership of the company. In it’s prior filing, the firm reported owning 4,359K shares, representing an increase of 16.62%. The firm increased its portfolio allocation in ULCC by 14.53% over the last quarter.

Price T Rowe Associates holds 3,545K shares representing 1.61% ownership of the company. In it’s prior filing, the firm reported owning 3,466K shares, representing an increase of 2.23%. The firm increased its portfolio allocation in ULCC by 111.08% over the last quarter.

Frontier Group Holdings Background Information
(This description is provided by the company.)

Frontier Airlines is committed to “Low Fares Done Right.” Headquartered in Denver, Colorado, the company operates more than 100 A320 family aircraft and has the largest A320neo fleet in the U.S. The use of these aircraft, Frontier’s seating configuration, weight-saving tactics and baggage process have all contributed to the airline’s average of 43 percent fuel savings compared to other U.S. airlines (fuel savings is based on Frontier Airlines’ 2019 fuel consumption per seat-mile compared to the weighted average of major U.S. airlines), which makes Frontier the most fuel-efficient U.S. airline. Frontier is also committed to families enabling children 14 years and younger to fly free through the airline’s Discount Den travel club on qualifying flights. With approximately 140 new Airbus planes on order, Frontier will continue to grow to deliver on the mission of providing affordable travel across America.

This article originally appeared on Fintel

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