Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Still a Buy?

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw strong trading volume on Monday . 1,166,526 shares changed hands during trading, a decline of 45% from the previous session’s volume of 2,106,084 shares.The stock last traded at $35.63 and had previously closed at $36.14.

Analyst Upgrades and Downgrades

FYBR has been the topic of a number of recent research reports. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

The business has a fifty day moving average price of $34.85 and a 200 day moving average price of $29.29. 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 market capitalization of $8.70 billion, a price-to-earnings ratio of -94.46 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. On average, research analysts expect that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Frontier Communications Parent during the second quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in shares of Frontier Communications Parent during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC boosted its position in shares of Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after purchasing an additional 811 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Game Plan Financial Advisors LLC raised its holdings in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares in the last quarter.

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.