Frontier Communications Parent (NASDAQ:FYBR) Given New $35.00 Price Target at JPMorgan Chase & Co.

Frontier Communications Parent (NASDAQ:FYBR) had its target price lifted by JPMorgan Chase & Co. from $33.00 to $35.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

FYBR has been the topic of a number of other research reports. Citigroup raised their price objective on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. 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 objective for the company. UBS Group initiated coverage on Frontier Communications Parent in a research report on Thursday, July 18th. They set a buy rating and a $33.00 target price on the stock. The Goldman Sachs Group lifted their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the company a buy rating in a research note on Monday. Finally, TD Cowen lowered their price target on 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. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $31.50.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded up $1.65 on Monday, hitting $27.68. 3,573,355 shares of the company were exchanged, compared to its average volume of 1,562,523. The firm has a market capitalization of $6.88 billion, a P/E ratio of 254.27 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. Frontier Communications Parent has a 1-year low of $13.66 and a 1-year high of $29.47. The stock’s 50 day moving average price is $26.39 and its 200 day moving average price is $24.85.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a return on equity of 0.52% and a net margin of 0.47%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts predict that Frontier Communications Parent will post -0.44 EPS for the current year.

Institutional Trading of Frontier Communications Parent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FYBR. Mackenzie Financial Corp boosted its position in Frontier Communications Parent by 62.8% in the 4th quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock valued at $14,797,000 after buying an additional 225,293 shares during the period. Capstone Investment Advisors LLC purchased a new stake in Frontier Communications Parent during the 1st quarter worth about $1,817,000. Norges Bank acquired a new stake in Frontier Communications Parent in the 4th quarter valued at about $50,269,000. Sunriver Management LLC purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at about $16,255,000. Finally, NBC Securities Inc. increased its stake in shares of Frontier Communications Parent by 26,121.9% during the first quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock worth $2,145,000 after buying an additional 87,247 shares during the period.

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.