Brokerages Set Frontier Communications Parent, Inc. (NASDAQ:FYBR) Price Target at $35.31

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been assigned an average rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.31.

A number of brokerages have issued reports on FYBR. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark cut Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors have recently bought and sold shares of FYBR. Franklin Resources Inc. raised its stake in shares of Frontier Communications Parent by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC grew its holdings in Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after acquiring an additional 444 shares during the period. Jag Capital Management LLC raised its position in Frontier Communications Parent by 5.2% in the third quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock worth $320,000 after acquiring an additional 445 shares in the last quarter. Game Plan Financial Advisors LLC lifted its holdings in Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Frontier Communications Parent by 6.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after purchasing an additional 581 shares in the last quarter.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $34.83 on Friday. The business has a 50-day simple moving average of $35.09 and a 200-day simple moving average of $31.39. The company has a market cap of $8.67 billion, a PE ratio of -46.44 and a beta of 1.05. Frontier Communications Parent has a one year low of $20.51 and a one year high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

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

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.