Frontier Communications Parent (NASDAQ:FYBR) Stock Rating Lowered by Moffett Nathanson

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by Moffett Nathanson from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday. UBS Group assumed coverage on shares of Frontier Communications Parent in a research report on Thursday, July 18th. They issued a “buy” rating and a $33.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday. Finally, Citigroup raised their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Frontier Communications Parent Trading Up 1.5 %

Shares of NASDAQ:FYBR opened at $35.53 on Thursday. The stock has a market capitalization of $8.83 billion, a PE ratio of 323.00 and a beta of 1.08. Frontier Communications Parent has a 1 year low of $13.66 and a 1 year high of $39.21. The firm has a fifty day moving average price of $28.17 and a 200 day moving average price of $25.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC increased its holdings in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Frontier Communications Parent by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after acquiring an additional 585 shares during the last quarter. Wedmont Private Capital boosted its stake in Frontier Communications Parent by 6.8% in the second quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock valued at $275,000 after acquiring an additional 640 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Frontier Communications Parent by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,801 shares of the company’s stock valued at $597,000 after acquiring an additional 662 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Frontier Communications Parent by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock valued at $180,000 after acquiring an additional 732 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.