Frontier Communications Parent (NASDAQ:FYBR) Sees Strong Trading Volume – Should You Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares saw an uptick in trading volume on Tuesday . 4,143,592 shares were traded during mid-day trading, an increase of 103% from the previous session’s volume of 2,041,388 shares.The stock last traded at $35.96 and had previously closed at $35.25.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FYBR. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. The Goldman Sachs Group lifted their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. The company’s 50 day moving average price is $32.91 and its 200 day moving average price is $28.13. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 326.91 and a beta of 1.10.

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

Institutional Investors Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Frontier Communications Parent by 18.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after purchasing an additional 444 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Frontier Communications Parent by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after buying an additional 585 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Frontier Communications Parent by 6.8% in the second quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock valued at $275,000 after buying an additional 640 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Frontier Communications Parent by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,801 shares of the company’s stock valued at $597,000 after buying an additional 662 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 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.