Frontier Communications Parent (NASDAQ:FYBR) Shares Gap Up to $23.13

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $23.13, but opened at $23.78. Frontier Communications Parent shares last traded at $23.72, with a volume of 48,811 shares traded.

Analyst Upgrades and Downgrades

Separately, Bank of America initiated coverage on Frontier Communications Parent in a research report on Tuesday. They issued a "buy" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.57.

Frontier Communications Parent Price Performance

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. The company has a market cap of $5.99 billion, a PE ratio of 192.75 and a beta of 1.05. The stock has a 50-day simple moving average of $23.56 and a 200 day simple moving average of $21.75.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts expect that Frontier Communications Parent, Inc. will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Frontier Communications Parent by 100.9% during the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company's stock worth $62,000 after purchasing an additional 1,267 shares during the period. NBC Securities Inc. increased its holdings in Frontier Communications Parent by 26,121.9% during the 1st quarter. NBC Securities Inc. now owns 87,581 shares of the company's stock worth $2,145,000 after purchasing an additional 87,247 shares during the period. PNC Financial Services Group Inc. increased its holdings in Frontier Communications Parent by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company's stock worth $180,000 after purchasing an additional 732 shares during the period. Vanguard Group Inc. increased its holdings in Frontier Communications Parent by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company's stock worth $607,253,000 after purchasing an additional 136,350 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent during the 4th quarter worth about $49,000.

Frontier Communications Parent Company Profile

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.