The Goldman Sachs Group Initiates Coverage on Frontier Communications Parent (NASDAQ:FYBR)

Equities research analysts at The Goldman Sachs Group began coverage on shares of Frontier Communications Parent (NASDAQ:FYBR) in a report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 11.24% from the stock’s current price.

A number of other equities research analysts have also recently commented on FYBR. Bank of America started coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. TD Cowen lowered their target price on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Citigroup raised their price objective on Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $26.07 on Monday. The business’s fifty day moving average price is $25.50 and its two-hundred day moving average price is $24.32. The stock has a market cap of $6.48 billion, a PE ratio of 237.00 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. Frontier Communications Parent has a one year low of $11.65 and a one year high of $27.41.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its holdings in shares of Frontier Communications Parent by 62.8% during the fourth quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock worth $14,797,000 after purchasing an additional 225,293 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Frontier Communications Parent by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after buying an additional 118,939 shares during the period. Tudor Investment Corp Et Al raised its position in shares of Frontier Communications Parent by 63.4% in the 3rd quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after buying an additional 140,943 shares during the period. American Century Companies Inc. raised its position in shares of Frontier Communications Parent by 83.9% in the 3rd quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after buying an additional 704,857 shares during the period. Finally, Norges Bank purchased a new position in shares of Frontier Communications Parent in the 4th quarter worth $50,269,000.

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.