Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Free Report) fell 3% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $35.00 to $33.00. The stock traded as low as $14.85 and last traded at $14.98. 403,198 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,274,825 shares. The stock had previously closed at $15.45.
A number of other analysts also recently commented on FYBR. Wolfe Research started coverage on shares of Frontier Communications Parent in a report on Tuesday, June 27th. They set an “outperform” rating and a $27.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of Frontier Communications Parent in a research note on Tuesday, August 29th. Citigroup cut Frontier Communications Parent from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $17.00 in a report on Monday, July 17th. Morgan Stanley decreased their target price on Frontier Communications Parent from $18.00 to $16.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 5th. Finally, 500.com restated an “initiates” rating on shares of Frontier Communications Parent in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.20.
Insiders Place Their Bets
In other Frontier Communications Parent news, major shareholder Ares Management Llc bought 37,557 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average cost of $15.27 per share, for a total transaction of $573,495.39. Following the completion of the purchase, the insider now owns 38,355,498 shares of the company’s stock, valued at approximately $585,688,454.46. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 374,122 shares of company stock valued at $5,579,985 in the last ninety days. Insiders own 0.20% of the company’s stock.
Institutional Trading of Frontier Communications Parent
Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Frontier Communications Parent by 97.5% in the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company’s stock valued at $143,737,000 after buying an additional 3,028,313 shares during the last quarter. Norges Bank acquired a new stake in Frontier Communications Parent in the fourth quarter valued at $54,468,000. ANTIPODES PARTNERS Ltd raised its holdings in Frontier Communications Parent by 35.0% in the second quarter. ANTIPODES PARTNERS Ltd now owns 7,594,774 shares of the company’s stock valued at $141,566,000 after acquiring an additional 1,969,522 shares in the last quarter. Ares Management LLC boosted its stake in Frontier Communications Parent by 5.4% during the 1st quarter. Ares Management LLC now owns 37,094,654 shares of the company’s stock valued at $844,645,000 after acquiring an additional 1,889,522 shares during the last quarter. Finally, Capital International Investors grew its stake in Frontier Communications Parent by 19.8% in the first quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock worth $303,091,000 after purchasing an additional 1,809,275 shares in the last quarter.
Frontier Communications Parent Trading Down 2.7 %
The company has a debt-to-equity ratio of 1.89, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day simple moving average is $16.34 and its 200 day simple moving average is $18.88. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.79 and a beta of 0.98.
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last posted its earnings results on Friday, August 4th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Frontier Communications Parent had a return on equity of 5.41% and a net margin of 4.78%. Frontier Communications Parent’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, research analysts predict that Frontier Communications Parent, Inc. will post -0.13 EPS for the current year.
About Frontier Communications Parent
Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.