Frontier Communications Parent (NASDAQ:FYBR) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Frontier Communications Parent (NASDAQ:FYBR) from an overweight rating to a neutral rating in a research note published on Tuesday morning, Marketbeat reports. The brokerage currently has $38.50 target price on the stock, up from their previous target price of $35.00.

FYBR has been the subject of several other research reports. Moffett Nathanson downgraded shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a report on Thursday, September 5th. Citigroup boosted their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a buy rating in a report on Thursday, August 8th. Wells Fargo & Company reaffirmed an equal weight rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Benchmark restated a buy rating and set a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group lifted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $35.38.

Frontier Communications Parent Stock Up 0.1 %

Shares of FYBR opened at $35.39 on Tuesday. Frontier Communications Parent has a 12-month low of $13.66 and a 12-month high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $8.80 billion, a PE ratio of 321.73 and a beta of 1.08. The business’s 50 day moving average is $29.76 and its 200 day moving average is $26.53.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts expect that Frontier Communications Parent 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 bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in Frontier Communications Parent during the second quarter valued at about $37,000. Neo Ivy Capital Management bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $49,000. Game Plan Financial Advisors LLC grew its position in shares of Frontier Communications Parent by 320.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Frontier Communications Parent during the 4th quarter worth approximately $52,000. Finally, Blue Trust Inc. lifted its position in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 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.