Frontier Communications Parent (NASDAQ:FYBR) Hits New 12-Month High at $27.41

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $27.41 and last traded at $25.67, with a volume of 979826 shares traded. The stock had previously closed at $24.00.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America started coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $30.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Frontier Communications Parent Price Performance

The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 213.92 and a beta of 1.05. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. The company has a 50-day simple moving average of $23.59 and a two-hundred day simple moving average of $22.63.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $0.63 EPS. Frontier Communications Parent’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its stake in shares of Frontier Communications Parent by 120.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after purchasing an additional 532 shares in the last quarter. GAMMA Investing LLC bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $31,000. Neo Ivy Capital Management bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $49,000. Cape Investment Advisory Inc. bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $52,000. Finally, Game Plan Financial Advisors LLC raised its holdings in 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 purchasing an additional 1,600 shares during 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.