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

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.31.

Several brokerages have issued reports on FYBR. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Wolfe Research lowered Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. TD Cowen lowered shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the 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 completion of the sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC raised its stake in shares of Frontier Communications Parent by 10.5% during the 2nd quarter. Natixis Advisors LLC now owns 17,073 shares of the company’s stock worth $447,000 after buying an additional 1,619 shares during the period. Victory Capital Management Inc. lifted its holdings in Frontier Communications Parent by 8.0% during the second quarter. Victory Capital Management Inc. now owns 63,860 shares of the company’s stock valued at $1,672,000 after purchasing an additional 4,755 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Frontier Communications Parent by 3.0% during the second quarter. Arizona State Retirement System now owns 52,185 shares of the company’s stock worth $1,366,000 after purchasing an additional 1,524 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Frontier Communications Parent by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,870 shares of the company’s stock worth $206,000 after purchasing an additional 770 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Frontier Communications Parent by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock valued at $52,515,000 after buying an additional 79,265 shares in the last quarter.

Frontier Communications Parent Stock Down 0.6 %

FYBR stock opened at $35.10 on Thursday. The stock has a fifty day moving average of $34.78 and a 200-day moving average of $32.53. 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 has a fifty-two week low of $20.51 and a fifty-two week high of $39.21. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of -46.80 and a beta of 1.05.

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