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 analysts that are covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.31.

A number of equities analysts recently commented on the company. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.10 on Thursday. The firm has a 50-day simple moving average of $34.78 and a 200-day simple moving average of $32.53. 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 $8.74 billion, a price-to-earnings ratio of -46.80 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.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 business had revenue of $1.49 billion during the quarter, compared to analyst estimates 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 firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. On average, equities analysts predict that Frontier Communications Parent will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.