TD Cowen Cuts Frontier Communications Parent (NASDAQ:FYBR) Price Target to $39.00

Frontier Communications Parent (NASDAQ:FYBR) had its price target lowered by analysts at TD Cowen from $41.00 to $39.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 48.12% from the company’s current price.

FYBR has been the topic of a number of other reports. Bank of America started coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price target for the company from $28.00 to $30.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Frontier Communications Parent Stock Up 2.8 %

Frontier Communications Parent stock traded up $0.71 during trading hours on Monday, hitting $26.33. The stock had a trading volume of 1,382,525 shares, compared to its average volume of 1,663,131. The stock’s 50-day moving average price is $23.66 and its 200-day moving average price is $22.75. Frontier Communications Parent has a 12-month low of $11.65 and a 12-month high of $27.41. The company has a quick ratio of 1.22, a current ratio of 1.07 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $6.54 billion, a P/E ratio of 241.09 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 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business 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 quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities research analysts anticipate that Frontier Communications Parent will post -0.2 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 FYBR. Raymond James & Associates increased its stake in Frontier Communications Parent by 123.5% in the 3rd quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock worth $761,000 after buying an additional 26,877 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Frontier Communications Parent during the third quarter worth about $234,000. New York State Teachers Retirement System raised its stake 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 valued at $2,687,000 after acquiring an additional 17,555 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Frontier Communications Parent by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock worth $548,000 after purchasing an additional 3,592 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Frontier Communications Parent by 1,282.2% in the 3rd quarter. Mackenzie Financial Corp now owns 358,647 shares of the company’s stock worth $5,613,000 after buying an additional 332,700 shares during the period.

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.