Frontier Communications Parent Sees Unusually Large Options Volume (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) saw unusually large options trading on Tuesday. Stock traders bought 15,942 put options on the company. This is an increase of approximately 489% compared to the typical daily volume of 2,707 put options.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America assumed coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a "buy" rating and a $30.00 target price on the stock. Citigroup raised Frontier Communications Parent from a "neutral" rating to a "buy" rating and increased their target price for the stock from $28.00 to $30.00 in a report on Monday. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of "Moderate Buy" and an average target price of $27.43.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded down $0.03 during mid-day trading on Tuesday, hitting $23.68. The company had a trading volume of 1,606,565 shares, compared to its average volume of 1,682,317. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 197.33 and a beta of 1.05. Frontier Communications Parent has a 12 month low of $11.65 and a 12 month high of $25.89. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. The firm's 50 day simple moving average is $23.49 and its two-hundred day simple moving average is $22.11.

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

Institutional Trading of Frontier Communications Parent

Several large investors have recently added to or reduced their stakes in the business. JANA Partners Management LP bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth $129,569,000. State Street Corp raised its stake in shares of Frontier Communications Parent by 97.5% in the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company's stock worth $143,737,000 after buying an additional 3,028,313 shares in the last quarter. Norges Bank bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth $54,468,000. Capital International Investors raised its stake in shares of Frontier Communications Parent by 19.8% in the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company's stock worth $303,091,000 after buying an additional 1,809,275 shares in the last quarter. Finally, Glendon Capital Management LP raised its stake in shares of Frontier Communications Parent by 6.2% in the 3rd quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company's stock worth $378,979,000 after buying an additional 1,417,609 shares in 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.