Frontier Communications Parent (NASDAQ:FYBR) Cut to “Hold” at TD Cowen

by · The Cerbat Gem

TD Cowen lowered shares of Frontier Communications Parent (NASDAQ:FYBR – Free Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $38.50 target price on the stock, down from their prior target price of $39.00.

Several other brokerages have also recently weighed in on FYBR. The Goldman Sachs Group raised their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the company a buy rating in a research note on Monday, August 5th. Benchmark reiterated a buy rating and set a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Wolfe Research lowered shares of Frontier Communications Parent from an outperform rating to a peer perform rating in a research note on Monday, September 30th. Moffett Nathanson lowered shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research note on Thursday, September 5th. Finally, Citigroup boosted their price objective on Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $35.31.

Check Out Our Latest Stock Report on Frontier Communications Parent

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $35.25 on Tuesday. The firm’s fifty day moving average is $32.22 and its 200-day moving average is $27.79. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent has a 52 week low of $15.93 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its earnings results 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). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

Large investors have recently modified their holdings of the business. Wedmont Private Capital lifted its stake in Frontier Communications Parent by 51.8% during the third quarter. Wedmont Private Capital now owns 15,292 shares of the company’s stock worth $540,000 after purchasing an additional 5,217 shares during the last quarter. GAMMA Investing LLC grew its position in Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after acquiring an additional 444 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Frontier Communications Parent by 32.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 56,900 shares of the company’s stock worth $2,022,000 after acquiring an additional 13,800 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Frontier Communications Parent by 57.6% in the 3rd quarter. SG Americas Securities LLC now owns 23,239 shares of the company’s stock valued at $826,000 after purchasing an additional 8,494 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Frontier Communications Parent by 8.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 450,844 shares of the company’s stock valued at $11,803,000 after purchasing an additional 36,944 shares during the last quarter.

About Frontier Communications Parent

(Get Free Report)

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.

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