Frontier Communications Parent (NASDAQ:FYBR) Lifted to "Buy" at Citigroup

Citigroup upgraded shares of Frontier Communications Parent (NASDAQ:FYBR - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $30.00 price objective on the stock, up from their prior price objective of $28.00.

Separately, Bank of America initiated coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They issued a buy rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $27.43.

Frontier Communications Parent Stock Down 0.7 %

Frontier Communications Parent stock traded down $0.16 during trading hours on Monday, reaching $23.71. The stock had a trading volume of 1,978,922 shares, compared to its average volume of 1,683,370. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 198.92 and a beta of 1.05. 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 business's 50 day moving average price is $23.50 and its 200-day moving average price is $21.99. Frontier Communications Parent has a 52 week low of $11.65 and a 52 week high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced 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 the consensus estimate of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The firm's revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Sell-side analysts anticipate that Frontier Communications Parent will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently modified their holdings of FYBR. Hexagon Capital Partners LLC raised its position in shares of Frontier Communications Parent by 120.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company's stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $31,000. Geneos Wealth Management Inc. purchased a new position in shares of Frontier Communications Parent in the 1st quarter valued at approximately $35,000. Captrust Financial Advisors raised its position in shares of Frontier Communications Parent by 2,698.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company's stock valued at $44,000 after purchasing an additional 1,808 shares during the last quarter. Finally, Quarry LP purchased a new position in Frontier Communications Parent during the 1st quarter worth approximately $44,000.

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.