Frontier Communications Parent (NASDAQ:FYBR) Rating Increased to Buy at Citigroup

Frontier Communications Parent (NASDAQ:FYBR) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The firm presently has a $30.00 price target on the stock, up from their previous price target of $28.00. Citigroup’s target price suggests a potential upside of 26.69% from the stock’s previous close.

Separately, Bank of America began coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.43.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $23.68 on Monday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 197.33 and a beta of 1.05. Frontier Communications Parent has a 1 year low of $11.65 and a 1 year high of $25.89. The business has a 50 day simple moving average of $23.49 and a 200-day simple moving average of $22.11. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping 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 the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC increased its holdings 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 acquiring an additional 532 shares during the period. GAMMA Investing LLC purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at $31,000. Geneos Wealth Management Inc. acquired a new stake in shares of Frontier Communications Parent in the 1st quarter worth $35,000. Captrust Financial Advisors boosted 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 worth $44,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Frontier Communications Parent in the 1st quarter worth $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.