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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has received an average recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.31.

A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Benchmark reiterated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, TD Cowen lowered 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.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $34.87 on Wednesday. The firm’s fifty day moving average price is $35.37 and its two-hundred day moving average price is $30.38. The stock has a market cap of $8.68 billion, a PE ratio of -46.49 and a beta of 1.10. 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 $20.42 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly 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 business 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%. Frontier Communications Parent’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. On average, equities analysts expect that Frontier Communications Parent will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 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 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 large investors have recently modified their holdings of FYBR. GAMMA Investing LLC boosted its stake 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 buying an additional 444 shares during the period. Jag Capital Management LLC raised its position in Frontier Communications Parent by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock worth $320,000 after purchasing an additional 445 shares during the period. Game Plan Financial Advisors LLC lifted its stake 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 worth $68,000 after purchasing an additional 500 shares during the last quarter. Captrust Financial Advisors lifted its stake in Frontier Communications Parent by 6.5% in the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after purchasing an additional 581 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its position in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after buying an additional 585 shares during the period.

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.