Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Here’s What Happened

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw an uptick in trading volume on Wednesday . 5,682,124 shares traded hands during mid-day trading, an increase of 160% from the previous session’s volume of 2,183,611 shares.The stock last traded at $34.81 and had previously closed at $34.15.

Analyst Ratings Changes

FYBR has been the subject of a number of recent research reports. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Up 1.2 %

The firm has a 50-day moving average of $35.58 and a two-hundred day moving average of $29.81. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. On average, research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Frontier Communications Parent in the third quarter valued at $50,000. Meeder Asset Management Inc. acquired a new stake in Frontier Communications Parent in the third quarter valued at $52,000. Blue Trust Inc. raised its position in Frontier Communications Parent by 224,400.0% during 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, Farther Finance Advisors LLC lifted its holdings in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the period.

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.