US Bancorp DE Grows Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

US Bancorp DE increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.4% in the 3rd quarter, Holdings Channel reports. The firm owned 7,750 shares of the company’s stock after buying an additional 598 shares during the period. US Bancorp DE’s holdings in Frontier Communications Parent were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in shares of Frontier Communications Parent by 5.6% during the third quarter. State of Alaska Department of Revenue now owns 25,693 shares of the company’s stock valued at $912,000 after purchasing an additional 1,370 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $222,000. TriaGen Wealth Management LLC purchased a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $375,000. Friedenthal Financial purchased a new stake in Frontier Communications Parent during the third quarter valued at approximately $756,000. Finally, Blue Trust Inc. increased its holdings in Frontier Communications Parent by 91.6% during the third quarter. Blue Trust Inc. now owns 4,302 shares of the company’s stock valued at $153,000 after buying an additional 2,057 shares during the last quarter.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $34.67 on Thursday. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of -46.23 and a beta of 1.10. Frontier Communications Parent, Inc. has a 1 year low of $20.34 and a 1 year high of $39.21. The business has a 50 day simple moving average of $35.50 and a 200-day simple moving average of $29.84. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Frontier Communications Parent’s revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on FYBR. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. The Goldman Sachs Group increased their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.31.

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.