US Bancorp DE Buys 598 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

US Bancorp DE lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,750 shares of the company’s stock after acquiring 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 SEC filing.

A number of other hedge funds also recently made changes to their positions in FYBR. Dimensional Fund Advisors LP lifted its holdings in shares of Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Frontier Communications Parent by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after purchasing an additional 1,462,646 shares during the period. Columbus Hill Capital Management L.P. raised its position in Frontier Communications Parent by 345.7% in the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock worth $11,670,000 after purchasing an additional 345,744 shares during the period. Marshall Wace LLP raised its position in Frontier Communications Parent by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company’s stock worth $11,002,000 after purchasing an additional 139,215 shares during the period. Finally, Affinity Wealth Management LLC purchased a new position in Frontier Communications Parent in the 3rd quarter worth $4,060,000.

Analysts Set New Price Targets

FYBR has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. The Goldman Sachs Group lifted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Wells Fargo & Company restated an “equal weight” rating and issued 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, BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Trading Up 1.5 %

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

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 the consensus estimate of ($0.22) by ($0.11). The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal 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.