Frontier Communications Parent (NASDAQ:FYBR) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Frontier Communications Parent (NASDAQ:FYBR) in a report released on Friday morning, Marketbeat.com reports. The firm currently has a $38.50 price target on the stock, up from their prior price target of $31.00.

A number of other research analysts also recently commented on FYBR. JPMorgan Chase & Co. boosted their price target 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. Benchmark reiterated a buy rating and set a $37.00 price target on shares of Frontier Communications Parent in a report on Thursday, September 5th. The Goldman Sachs Group upped 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. Citigroup boosted their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a report on Thursday, August 8th. Finally, UBS Group initiated coverage on Frontier Communications Parent in a research report on Thursday, July 18th. They issued a buy rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $34.94.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $35.77 on Friday. The firm has a 50-day moving average of $28.36 and a 200-day moving average of $25.95. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $8.91 billion, a PE ratio of 325.18 and a beta of 1.08. Frontier Communications Parent has a 52-week low of $13.66 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. Frontier Communications Parent’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. On average, sell-side analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at about $37,000. Neo Ivy Capital Management bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at $49,000. Cape Investment Advisory Inc. acquired a new position in shares of Frontier Communications Parent during the fourth quarter valued at about $52,000. Game Plan Financial Advisors LLC grew its holdings in shares of Frontier Communications Parent by 320.0% during the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after acquiring an additional 2,244 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.