Frontier Communications Parent (NASDAQ:FYBR) Lowered to Hold at TD Cowen

TD Cowen downgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $38.50 price target on the stock, down from their prior price target of $39.00.

A number of other research firms have also recently commented on FYBR. Wolfe Research cut shares of Frontier Communications Parent from an outperform rating to a peer perform rating in a research report on Monday, September 30th. Moffett Nathanson cut shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Thursday, September 5th. Citigroup boosted their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research report on Thursday, August 8th. Benchmark restated a buy rating and set a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, Wells Fargo & Company reaffirmed an equal weight rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Frontier Communications Parent has a consensus rating of Hold and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.25 on Tuesday. Frontier Communications Parent has a one year low of $16.15 and a one year high of $39.21. The firm has a market cap of $8.78 billion, a PE ratio of -95.27 and a beta of 1.10. The firm’s 50 day moving average price is $32.39 and its 200-day moving average price is $27.87. 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 posted its earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. Frontier Communications Parent’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent in the second quarter worth approximately $37,000. Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent in the fourth quarter valued at $49,000. Game Plan Financial Advisors LLC boosted its stake in Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Frontier Communications Parent by 100.9% during the first quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 1,267 shares in the last quarter.

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.