Handelsbanken Fonder AB Increases Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Handelsbanken Fonder AB increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,000 shares of the company’s stock after purchasing an additional 5,400 shares during the period. Handelsbanken Fonder AB’s holdings in Frontier Communications Parent were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its position in Frontier Communications Parent by 101.6% during the 3rd quarter. Covestor Ltd now owns 7,811 shares of the company’s stock valued at $122,000 after acquiring an additional 3,937 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter worth $157,000. Janney Montgomery Scott LLC bought a new stake in Frontier Communications Parent during the third quarter valued at about $157,000. Aristeia Capital LLC bought a new stake in Frontier Communications Parent during the third quarter valued at about $163,000. Finally, Traverso Chambers Private Wealth Management LLC purchased a new position in Frontier Communications Parent in the fourth quarter valued at about $205,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $30.00 in a research report on Monday, April 15th. Bank of America assumed coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.43.

Frontier Communications Parent Stock Performance

FYBR opened at $22.93 on Monday. The firm’s 50-day moving average price is $23.45 and its 200-day moving average price is $22.52. The company has a market cap of $5.70 billion, a P/E ratio of 191.08 and a beta of 1.05. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. Frontier Communications Parent, Inc. has a 52-week low of $11.65 and a 52-week high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $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 analysts anticipate that Frontier Communications Parent, Inc. will post -0.2 EPS for the current fiscal year.

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.