Frontier Communications Parent’s (FYBR) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Frontier Communications Parent (NASDAQ:FYBR) in a report issued on Thursday, Benzinga reports. They currently have a $37.00 price target on the stock.

A number of other analysts also recently weighed in on FYBR. UBS Group initiated coverage on shares of Frontier Communications Parent in a report on Thursday, July 18th. They set a buy rating and a $33.00 price target for the company. The Goldman Sachs Group raised their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a buy rating in a report on Monday, August 5th. Citigroup boosted their price target on Frontier Communications Parent from $32.00 to $35.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on Frontier Communications Parent from $33.00 to $35.00 and gave the company an overweight rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $34.94.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $35.53 on Thursday. The firm has a market cap of $8.83 billion, a PE ratio of 323.00 and a beta of 1.08. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s fifty day moving average price is $28.17 and its two-hundred day moving average price is $25.82. Frontier Communications Parent has a one year low of $13.66 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of FYBR. International Assets Investment Management LLC bought a new stake in shares of Frontier Communications Parent during the second quarter worth about $37,000. Neo Ivy Capital Management acquired a new position in Frontier Communications Parent in the 4th quarter valued at approximately $49,000. Game Plan Financial Advisors LLC increased its position in Frontier Communications Parent by 320.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares during the period. Cape Investment Advisory Inc. bought a new position in shares of Frontier Communications Parent during the fourth quarter valued at $52,000. Finally, Blue Trust Inc. lifted its holdings in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 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.