Frontier Communications Parent (NASDAQ:FYBR) Trading Down 3.3%

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was down 3.3% during mid-day trading on Wednesday . The stock traded as low as $28.11 and last traded at $28.23. Approximately 230,064 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,576,560 shares. The stock had previously closed at $29.18.

Analysts Set New Price Targets

Several analysts have recently issued reports on FYBR shares. The Goldman Sachs Group lifted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. TD Cowen reduced their price objective on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, May 6th. UBS Group started coverage on shares of Frontier Communications Parent in a research note on Thursday, July 18th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Citigroup raised their price target on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Communications Parent currently has an average rating of “Moderate Buy” and an average target price of $31.88.

Frontier Communications Parent Trading Down 2.4 %

The stock has a market cap of $7.08 billion, a PE ratio of 265.27 and a beta of 1.08. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50-day moving average price is $26.84 and its 200 day moving average price is $25.14.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its stake in shares of Frontier Communications Parent by 120.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock worth $25,000 after acquiring an additional 532 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Frontier Communications Parent in the fourth quarter worth $31,000. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the second quarter worth $37,000. Neo Ivy Capital Management acquired a new position in shares of Frontier Communications Parent in the fourth quarter worth $49,000. Finally, Game Plan Financial Advisors LLC grew its stake in shares of Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 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.