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

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

A number of equities research analysts have recently commented on the stock. Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 425 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent during the third quarter worth approximately $50,000. Meeder Asset Management Inc. acquired a new position in Frontier Communications Parent during the third quarter worth $52,000. Farther Finance Advisors LLC grew its holdings in Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter worth $91,000.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $35.79 on Monday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day moving average of $35.11 and a two-hundred day moving average of $33.69. The stock has a market cap of $8.91 billion, a P/E ratio of -47.72 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.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. As a group, research analysts predict that Frontier Communications Parent will post -0.92 EPS for the current 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.