Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,833 shares of the company’s stock after purchasing an additional 3,728 shares during the quarter. Raymond James & Associates’ holdings in Frontier Communications Parent were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Neo Ivy Capital Management bought a new position in Frontier Communications Parent in the 4th quarter worth approximately $49,000. Cape Investment Advisory Inc. bought a new stake in shares of Frontier Communications Parent during the 4th quarter worth $52,000. Game Plan Financial Advisors LLC boosted its stake in shares of Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 shares in the last quarter. Blue Trust Inc. lifted 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 lifted 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.

Frontier Communications Parent Stock Performance

FYBR stock opened at $38.68 on Thursday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day moving average price of $27.80 and a 200 day moving average price of $25.63. Frontier Communications Parent, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $39.21. The stock has a market capitalization of $9.61 billion, a PE ratio of 351.64 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Frontier Communications Parent, Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FYBR. Benchmark increased their price objective on Frontier Communications Parent from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Citigroup raised their price target on Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on Frontier Communications Parent from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group assumed coverage on shares of Frontier Communications Parent in a research note on Thursday, July 18th. They set a “buy” rating and a $33.00 price target for the company. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.13.

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.