The Goldman Sachs Group Raises Frontier Communications Parent (NASDAQ:FYBR) Price Target to $32.00

Frontier Communications Parent (NASDAQ:FYBR) had its price target increased by The Goldman Sachs Group from $29.00 to $32.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

FYBR has been the topic of a number of other reports. Citigroup lifted their price objective on Frontier Communications Parent from $30.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. UBS Group assumed coverage on shares of Frontier Communications Parent in a research report on Thursday, July 18th. They set a buy rating and a $33.00 price objective on the stock. TD Cowen dropped their target price on shares of Frontier Communications Parent from $41.00 to $39.00 and set a buy rating for the company in a research report on Monday, May 6th. Finally, Bank of America began coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They set a buy rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $31.50.

Frontier Communications Parent Trading Down 0.9 %

Shares of FYBR opened at $27.43 on Monday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 249.36 and a beta of 1.08. Frontier Communications Parent has a twelve month low of $13.66 and a twelve month high of $29.47. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.14. The firm has a fifty day simple moving average of $26.47 and a two-hundred day simple moving average of $24.91.

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

Institutional Trading of Frontier Communications Parent

A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in Frontier Communications Parent by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,870 shares of the company’s stock valued at $206,000 after acquiring an additional 770 shares during the period. Arizona State Retirement System lifted its holdings in shares of Frontier Communications Parent by 3.0% during the second quarter. Arizona State Retirement System now owns 52,185 shares of the company’s stock valued at $1,366,000 after purchasing an additional 1,524 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Frontier Communications Parent by 8.0% in the 2nd quarter. Victory Capital Management Inc. now owns 63,860 shares of the company’s stock worth $1,672,000 after purchasing an additional 4,755 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Frontier Communications Parent by 10.5% in the 2nd quarter. Natixis Advisors LLC now owns 17,073 shares of the company’s stock worth $447,000 after buying an additional 1,619 shares during the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after buying an additional 500 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.