Brokerages Set Frontier Communications Parent, Inc. (NASDAQ:FYBR) Price Target at $29.13

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $29.13.

A number of analysts have weighed in on the company. Citigroup upped their price target on Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Bank of America assumed coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, TD Cowen lowered their price target on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new position in shares of Frontier Communications Parent during the third quarter valued at $157,000. DekaBank Deutsche Girozentrale lifted its stake in Frontier Communications Parent by 16.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 70,000 shares of the company’s stock valued at $1,068,000 after buying an additional 10,000 shares during the period. Invesco Ltd. lifted its stake in Frontier Communications Parent by 5.2% in the third quarter. Invesco Ltd. now owns 783,171 shares of the company’s stock valued at $12,257,000 after buying an additional 38,791 shares during the period. Algert Global LLC acquired a new position in Frontier Communications Parent in the third quarter valued at about $651,000. Finally, Covestor Ltd lifted its stake in Frontier Communications Parent by 101.6% in the third quarter. Covestor Ltd now owns 7,811 shares of the company’s stock valued at $122,000 after buying an additional 3,937 shares during the period.

Frontier Communications Parent Stock Performance

FYBR opened at $25.22 on Friday. The stock has a market cap of $6.27 billion, a PE ratio of 229.27 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. Frontier Communications Parent has a 1 year low of $11.65 and a 1 year high of $27.41. The stock’s 50 day simple moving average is $25.14 and its 200-day simple moving average is $24.24.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.