Retirement Systems of Alabama Acquires 849 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Retirement Systems of Alabama raised its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 277,021 shares of the company’s stock after purchasing an additional 849 shares during the period. Retirement Systems of Alabama’s holdings in Frontier Communications Parent were worth $7,020,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Frontier Communications Parent during the fourth quarter valued at $31,000. Duality Advisers LP increased its stake in Frontier Communications Parent by 66.2% during the 4th quarter. Duality Advisers LP now owns 60,450 shares of the company’s stock valued at $1,532,000 after purchasing an additional 24,068 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Frontier Communications Parent by 14.8% in the fourth quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company’s stock worth $1,064,000 after buying an additional 5,400 shares during the last quarter. Xponance Inc. lifted its stake in shares of Frontier Communications Parent by 2.0% in the fourth quarter. Xponance Inc. now owns 28,019 shares of the company’s stock worth $710,000 after buying an additional 559 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Frontier Communications Parent by 15.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,363 shares of the company’s stock worth $1,023,000 after buying an additional 5,335 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $25.62 on Friday. The firm has a market cap of $6.37 billion, a PE ratio of 232.91 and a beta of 1.05. Frontier Communications Parent, Inc. has a 1-year low of $11.65 and a 1-year high of $27.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. The firm has a fifty day simple moving average of $23.66 and a two-hundred day simple moving average of $22.69.

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

Analyst Upgrades and Downgrades

FYBR has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $28.00 to $30.00 in a report on Monday, April 15th. Bank of America began coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.43.

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.