Frontier Communications Parent (NASDAQ:FYBR) Price Target Lowered to $16.00 at Morgan Stanley

Frontier Communications Parent (NASDAQ:FYBR) had its price objective trimmed by Morgan Stanley from $18.00 to $16.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages also recently issued reports on FYBR. Benchmark restated a buy rating and set a $35.00 price target on shares of Frontier Communications Parent in a report on Tuesday, August 29th. 500.com reaffirmed an initiates rating on shares of Frontier Communications Parent in a research report on Tuesday, June 27th. Citigroup cut Frontier Communications Parent from a buy rating to a neutral rating and reduced their price objective for the company from $30.00 to $17.00 in a research note on Monday, July 17th. Finally, Wolfe Research began coverage on shares of Frontier Communications Parent in a report on Tuesday, June 27th. They issued an outperform rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $28.78.

Frontier Communications Parent Trading Down 2.0 %

Shares of FYBR stock opened at $15.98 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 14.27 and a beta of 0.98. The stock has a 50 day simple moving average of $16.77 and a 200-day simple moving average of $19.38. Frontier Communications Parent has a 1-year low of $11.65 and a 1-year high of $30.83.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Friday, August 4th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Frontier Communications Parent had a return on equity of 5.41% and a net margin of 4.78%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities research analysts expect that Frontier Communications Parent will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Frontier Communications Parent news, major shareholder Ares Management Llc purchased 179,168 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average cost of $15.17 per share, for a total transaction of $2,717,978.56. Following the acquisition, the insider now owns 38,284,666 shares of the company’s stock, valued at approximately $580,778,383.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 224,122 shares of company stock worth $3,401,985. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Frontier Communications Parent

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new stake in Frontier Communications Parent during the 1st quarter worth approximately $27,000. Geneos Wealth Management Inc. acquired a new stake in Frontier Communications Parent in the 1st quarter valued at $35,000. Captrust Financial Advisors increased its holdings in Frontier Communications Parent by 2,698.5% in the 2nd 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 in the last quarter. Quarry LP acquired a new stake in Frontier Communications Parent in the 1st quarter valued at $44,000. Finally, Sound Income Strategies LLC acquired a new stake in Frontier Communications Parent in the first quarter valued at approximately $50,000.

About Frontier Communications Parent

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.