Frontier Communications Parent (NASDAQ:FYBR) Price Target Lowered to $33.00 at JPMorgan Chase & Co.

Frontier Communications Parent (NASDAQ:FYBR) had its price target reduced by JPMorgan Chase & Co. from $35.00 to $33.00 in a report published on Friday, MarketBeat.com reports. They currently have an overweight rating on the stock.

FYBR has been the subject of several other research reports. 500.com restated an initiates rating on shares of Frontier Communications Parent in a report on Tuesday, June 27th. Citigroup downgraded shares of Frontier Communications Parent from a buy rating to a neutral rating and lowered their target price for the stock from $30.00 to $17.00 in a research note on Monday, July 17th. Benchmark reaffirmed a buy rating and set a $35.00 price target on shares of Frontier Communications Parent in a research report on Tuesday, August 29th. Wolfe Research assumed coverage on Frontier Communications Parent in a report on Tuesday, June 27th. They set an outperform rating and a $27.00 price target for the company. Finally, Morgan Stanley dropped their price objective on Frontier Communications Parent from $18.00 to $16.00 and set an underweight rating on the stock in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $29.20.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $14.89 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.29 and a beta of 0.98. Frontier Communications Parent has a twelve month low of $11.65 and a twelve month high of $30.83. The stock has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $18.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.89.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 4th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Frontier Communications Parent had a net margin of 4.78% and a return on equity of 5.41%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Sell-side analysts expect that Frontier Communications Parent will post -0.13 EPS for the current year.

Insider Transactions at Frontier Communications Parent

In other news, major shareholder Ares Management Llc bought 37,557 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $15.27 per share, with a total value of $573,495.39. Following the transaction, the insider now directly owns 38,355,498 shares of the company’s stock, valued at approximately $585,688,454.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 374,122 shares of company stock valued at $5,579,985 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Frontier Communications Parent

Several hedge funds have recently bought and sold shares of the business. Ares Management LLC lifted its stake in shares of Frontier Communications Parent by 5.4% in the first quarter. Ares Management LLC now owns 37,094,654 shares of the company’s stock valued at $844,645,000 after buying an additional 1,889,522 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Frontier Communications Parent by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,962,623 shares of the company’s stock worth $538,015,000 after acquiring an additional 1,008,529 shares during the last quarter. Glendon Capital Management LP lifted its position in Frontier Communications Parent by 7.1% in the 2nd quarter. Glendon Capital Management LP now owns 22,798,300 shares of the company’s stock valued at $424,960,000 after acquiring an additional 1,519,500 shares in the last quarter. Capital International Investors boosted its stake in Frontier Communications Parent by 2.0% during the 2nd quarter. Capital International Investors now owns 16,318,257 shares of the company’s stock valued at $304,172,000 after purchasing an additional 315,164 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Frontier Communications Parent by 14.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,564,910 shares of the company’s stock valued at $159,650,000 after purchasing an additional 1,048,599 shares during the last quarter.

Frontier Communications Parent Company Profile

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.