Frontier Communications Parent (NASDAQ:FYBR) Sets New 52-Week High at $27.41

Frontier Communications Parent, Inc. (NASDAQ:FYBR) reached a new 52-week high during trading on Friday . The company traded as high as $27.41 and last traded at $27.28, with a volume of 1296714 shares trading hands. The stock had previously closed at $26.74.

Wall Street Analyst Weigh In

A number of research firms have commented on FYBR. The Goldman Sachs Group initiated coverage on shares of Frontier Communications Parent in a research note on Monday, July 1st. They set a “buy” rating and a $29.00 price objective on the stock. TD Cowen reduced their price target on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Citigroup raised their price target on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Bank of America initiated coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Frontier Communications Parent Stock Performance

The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average is $25.88 and its two-hundred day moving average is $24.41. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 243.09 and a beta of 1.08.

Institutional Trading of Frontier Communications Parent

A number of large investors have recently modified their holdings of FYBR. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 4th quarter worth about $50,269,000. Canada Pension Plan Investment Board increased its stake in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares during the period. Dimensional Fund Advisors LP increased its stake in Frontier Communications Parent by 41.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,861,434 shares of the company’s stock valued at $123,191,000 after buying an additional 1,415,278 shares during the period. Reaves W H & Co. Inc. acquired a new position in Frontier Communications Parent during the 1st quarter valued at about $20,200,000. Finally, American Century Companies Inc. increased its stake in Frontier Communications Parent by 83.9% during the 3rd quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock valued at $24,180,000 after buying an additional 704,857 shares during the period.

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.