Frontier Communications Parent (NASDAQ:FYBR – Get Free Report)‘s stock had its “buy” rating reaffirmed by Benchmark in a report released on Wednesday, Benzinga reports. They presently have a $35.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 86.37% from the company’s current price.
FYBR has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Frontier Communications Parent from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, September 15th. 500.com reaffirmed an “initiates” rating on shares of Frontier Communications Parent in a research report on Tuesday, June 27th. Citigroup cut shares of Frontier Communications Parent from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $17.00 in a research report on Monday, July 17th. Morgan Stanley decreased their price objective on shares of Frontier Communications Parent from $18.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, September 5th. Finally, Wolfe Research initiated coverage on shares of Frontier Communications Parent in a research report on Tuesday, June 27th. They set an “outperform” rating and a $27.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.22.
View Our Latest Report on Frontier Communications Parent
Frontier Communications Parent Stock Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). Frontier Communications Parent had a net margin of 4.78% and a return on equity of 5.41%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts predict that Frontier Communications Parent will post -0.13 EPS for the current fiscal year.
Insider Activity at Frontier Communications Parent
In other Frontier Communications Parent news, major shareholder Ares Management Llc acquired 37,557 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $15.27 per share, for a total transaction of $573,495.39. Following the completion of the purchase, the insider now owns 38,355,498 shares in the company, valued at approximately $585,688,454.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 624,122 shares of company stock valued at $9,278,985 over the last ninety days. Insiders own 0.20% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of FYBR. Financial Management Professionals Inc. acquired a new position in Frontier Communications Parent in the first quarter valued at $27,000. Geneos Wealth Management Inc. acquired a new position in Frontier Communications Parent in the first quarter valued at $35,000. Captrust Financial Advisors increased its stake in Frontier Communications Parent by 2,698.5% in the second quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares during the period. Quarry LP acquired a new position in Frontier Communications Parent in the first quarter valued at $44,000. Finally, Sound Income Strategies LLC acquired a new position in Frontier Communications Parent in the first quarter valued at $50,000.
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.
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