Frontier Communications Parent (NASDAQ:FYBR) Given New $32.00 Price Target at The Goldman Sachs Group

Frontier Communications Parent (NASDAQ:FYBR) had its price objective hoisted by The Goldman Sachs Group from $29.00 to $32.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded up $1.65 during trading hours on Monday, hitting $27.68. The company’s stock had a trading volume of 3,573,355 shares, compared to its average volume of 1,562,523. The company has a 50 day moving average of $26.39 and a 200 day moving average of $24.85. The stock has a market cap of $6.88 billion, a PE ratio of 254.27 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. Frontier Communications Parent has a 12-month low of $13.66 and a 12-month high of $29.47.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. On average, sell-side analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC raised its position in shares of Frontier Communications Parent by 120.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after buying an additional 532 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $31,000. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent in the second quarter valued at about $37,000. Neo Ivy Capital Management acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $49,000. Finally, Game Plan Financial Advisors LLC increased its position in Frontier Communications Parent by 320.0% during the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 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.