Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $35.31 Average Target Price from Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.31.

A number of equities research analysts have commented on FYBR shares. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $38.50 in a research note on Tuesday, September 17th. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Frontier Communications Parent in the third quarter valued at $50,000. Meeder Asset Management Inc. acquired a new position in shares of Frontier Communications Parent during the 3rd quarter valued at about $52,000. Farther Finance Advisors LLC increased its stake in shares of Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares during the last quarter. Quarry LP purchased a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $91,000. Finally, GAMMA Investing LLC grew its holdings in Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after purchasing an additional 444 shares during the period.

Frontier Communications Parent Trading Up 0.7 %

NASDAQ FYBR opened at $35.33 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.80 billion, a P/E ratio of -47.11 and a beta of 1.05. Frontier Communications Parent has a 52-week low of $20.51 and a 52-week high of $39.21. The firm has a 50-day moving average price of $34.78 and a 200 day moving average price of $32.64.

Frontier Communications Parent (NASDAQ:FYBR) last issued its 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 analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Frontier Communications Parent will post -0.83 EPS for the current year.

Frontier Communications Parent Company Profile

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.