Frontier Communications Parent (NASDAQ:FYBR) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research cut shares of Frontier Communications Parent (NASDAQ:FYBR) from an outperform rating to a peer perform rating in a research report report published on Monday morning, Marketbeat Ratings reports.

A number of other analysts also recently issued reports on the company. Citigroup raised their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Moffett Nathanson cut shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Thursday, September 5th. Wells Fargo & Company reiterated an equal weight rating and issued a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Benchmark reissued a buy rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, UBS Group lowered shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $35.38.

Frontier Communications Parent Stock Performance

FYBR opened at $35.42 on Monday. Frontier Communications Parent has a twelve month low of $13.66 and a twelve month high of $39.21. The firm has a market capitalization of $8.80 billion, a PE ratio of 322.00 and a beta of 1.10. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm’s 50-day moving average price is $31.40 and its 200 day moving average price is $27.33.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at $37,000. Neo Ivy Capital Management acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $49,000. Game Plan Financial Advisors LLC boosted its stake 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 valued at $51,000 after purchasing an additional 1,600 shares during the period. Blue Trust Inc. grew its holdings in shares of Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 valued at $62,000 after purchasing an additional 1,267 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.