Brokerages Set Frontier Communications Parent, Inc. (NASDAQ:FYBR) PT at $29.13

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $29.43.

A number of research analysts recently issued reports on FYBR shares. Citigroup raised their price objective on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. TD Cowen reduced their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Finally, Bank of America began coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. JANA Partners Management LP bought a new stake in Frontier Communications Parent in the third quarter valued at $129,569,000. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $50,269,000. Canada Pension Plan Investment Board increased its position in Frontier Communications Parent by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Frontier Communications Parent by 41.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,861,434 shares of the company’s stock worth $123,191,000 after buying an additional 1,415,278 shares during the period. Finally, Reaves W H & Co. Inc. bought a new position in Frontier Communications Parent in the first quarter worth approximately $20,200,000.

Frontier Communications Parent Stock Up 1.5 %

Shares of FYBR opened at $26.18 on Friday. The stock has a fifty day moving average of $25.35 and a 200-day moving average of $24.30. Frontier Communications Parent has a 52 week low of $11.65 and a 52 week high of $27.41. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 238.00 and a beta of 1.10. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07.

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.