Citigroup Increases Frontier Communications Parent (NASDAQ:FYBR) Price Target to $32.00

Frontier Communications Parent (NASDAQ:FYBR) had its target price upped by investment analysts at Citigroup from $30.00 to $32.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 26.18% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America began coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target on the stock. TD Cowen reduced their target price on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday. 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, Frontier Communications Parent currently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Frontier Communications Parent Stock Down 1.8 %

NASDAQ:FYBR opened at $25.36 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.07 and a debt-to-equity ratio of 2.14. Frontier Communications Parent has a 12-month low of $11.65 and a 12-month high of $27.41. The stock’s fifty day simple moving average is $23.74 and its 200-day simple moving average is $22.85. The firm has a market capitalization of $6.30 billion, a P/E ratio of 230.55 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 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 down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts expect that Frontier Communications Parent will post -0.2 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

A number of institutional investors have recently modified their holdings of FYBR. Russell Investments Group Ltd. raised its position in Frontier Communications Parent by 140.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock valued at $103,000 after buying an additional 2,461 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Frontier Communications Parent during the 1st quarter worth approximately $595,000. Reaves W H & Co. Inc. acquired a new stake in shares of Frontier Communications Parent in the first quarter valued at approximately $20,200,000. Quantbot Technologies LP bought a new stake in shares of Frontier Communications Parent in the first quarter worth $582,000. Finally, Texas Permanent School Fund Corp boosted its holdings in Frontier Communications Parent by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 193,601 shares of the company’s stock worth $4,743,000 after purchasing an additional 2,798 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.