Frontier Communications Parent (NASDAQ:FYBR) Upgraded to Buy by Citigroup

Citigroup upgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a neutral rating to a buy rating in a research note released on Monday, Marketbeat.com reports. They currently have $30.00 price target on the stock, up from their prior price target of $28.00.

Separately, Bank of America assumed coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a buy rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $27.43.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $22.57 on Monday. The company’s 50-day moving average is $23.46 and its 200 day moving average is $22.12. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $5.61 billion, a P/E ratio of 188.08 and a beta of 1.05. Frontier Communications Parent has a fifty-two week low of $11.65 and a fifty-two week high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $0.63 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Frontier Communications Parent will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State of Michigan Retirement System increased its position in shares of Frontier Communications Parent by 2.3% in the first quarter. State of Michigan Retirement System now owns 54,300 shares of the company’s stock worth $1,330,000 after purchasing an additional 1,200 shares during the last quarter. Game Plan Financial Advisors LLC increased its position in shares of Frontier Communications Parent by 320.0% in 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. Wedmont Private Capital increased its position in shares of Frontier Communications Parent by 11.0% in the first quarter. Wedmont Private Capital now owns 9,435 shares of the company’s stock worth $227,000 after purchasing an additional 935 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Frontier Communications Parent by 100.9% in the first 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 last quarter. Finally, NBC Securities Inc. increased its position in shares of Frontier Communications Parent by 26,121.9% in the first 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 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.