Frontier Communications (FTR) Coverage Initiated at Barclays
Analysts at Barclays initiated coverage on shares of Frontier Communications (NASDAQ:FTR) in a research report issued to clients and investors on Friday. The firm set an “underweight” rating and a $7.00 price target on the utilities provider’s stock. Barclays’ price target suggests a potential downside of 13.37% from the company’s current price.
Several other brokerages have also commented on FTR. BidaskClub upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Royal Bank of Canada restated a “hold” rating and issued a $16.00 price objective on shares of Frontier Communications in a report on Sunday, September 17th. Deutsche Bank decreased their price objective on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Finally, Zacks Investment Research lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.30.
Frontier Communications (FTR) opened at $8.08 on Friday. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. Frontier Communications has a 1-year low of $6.08 and a 1-year high of $57.30.
A number of large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in Frontier Communications during the 3rd quarter valued at about $176,000. Engineers Gate Manager LP bought a new stake in Frontier Communications during the 3rd quarter valued at about $138,000. Pinnacle Associates Ltd. bought a new stake in Frontier Communications during the 3rd quarter valued at about $535,000. Virginia Retirement Systems ET AL bought a new stake in Frontier Communications during the 3rd quarter valued at about $174,000. Finally, SG Americas Securities LLC increased its stake in Frontier Communications by 109.9% during the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 357,493 shares in the last quarter. Institutional investors and hedge funds own 67.62% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.watchlistnews.com/frontier-communications-ftr-coverage-initiated-at-barclays/1769111.html.
Frontier Communications Company Profile
Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).
Receive News & Ratings for Frontier Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications and related companies with MarketBeat.com's FREE daily email newsletter.