Frontier Communications Parent (NASDAQ:FYBR) Cut to Neutral at JPMorgan Chase & Co.

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, FinViz reports. They presently have a $38.50 price target on the stock, up from their prior price target of $35.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.09% from the stock’s current price.

Several other equities analysts also recently issued reports on FYBR. Citigroup upped their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Moffett Nathanson cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. UBS Group lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Finally, 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 report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.95 on Tuesday. The stock’s 50-day simple moving average is $29.36 and its 200-day simple moving average is $26.38. The firm has a market capitalization of $8.94 billion, a PE ratio of 326.82 and a beta of 1.08. Frontier Communications Parent has a fifty-two week low of $13.66 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC increased its position in Frontier Communications Parent by 23.8% during the 2nd 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 in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Frontier Communications Parent by 1.3% in 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 last quarter. Wedmont Private Capital lifted its stake in shares of Frontier Communications Parent by 6.8% during the second quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock valued at $275,000 after buying an additional 640 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Frontier Communications Parent by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,801 shares of the company’s stock valued at $597,000 after buying an additional 662 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Frontier Communications Parent by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after acquiring an additional 732 shares during the last quarter.

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.