Frontier Communications Parent (NASDAQ:FYBR) Sets New 12-Month High at $27.41

Frontier Communications Parent, Inc. (NASDAQ:FYBR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $27.41 and last traded at $25.67, with a volume of 979826 shares. The stock had previously closed at $24.00.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FYBR shares. Bank of America initiated coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price for the company. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Frontier Communications Parent Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. The stock’s 50 day moving average price is $23.66 and its two-hundred day moving average price is $22.69. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 213.50 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. Frontier Communications Parent’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, analysts forecast that Frontier Communications Parent, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates lifted its stake in shares of Frontier Communications Parent by 123.5% during the third quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock valued at $761,000 after buying an additional 26,877 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Frontier Communications Parent during the third quarter worth $234,000. New York State Teachers Retirement System boosted its holdings in shares of Frontier Communications Parent by 11.4% during the third quarter. New York State Teachers Retirement System now owns 171,708 shares of the company’s stock worth $2,687,000 after purchasing an additional 17,555 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Frontier Communications Parent by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock valued at $548,000 after purchasing an additional 3,592 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Frontier Communications Parent by 1,282.2% in the third quarter. Mackenzie Financial Corp now owns 358,647 shares of the company’s stock valued at $5,613,000 after purchasing an additional 332,700 shares during 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.