Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Should You Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares saw an uptick in trading volume on Tuesday . 4,143,592 shares were traded during trading, an increase of 103% from the previous session’s volume of 2,041,388 shares.The stock last traded at $35.96 and had previously closed at $35.25.

Analyst Ratings Changes

Several research firms have recently commented on FYBR. Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. The Goldman Sachs Group raised their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Up 1.7 %

The firm has a market cap of $8.91 billion, a PE ratio of 320.45 and a beta of 1.10. The stock has a 50-day simple moving average of $32.58 and a two-hundred day simple moving average of $28.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. Frontier Communications Parent’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Analysts expect that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Frontier Communications Parent by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock worth $607,253,000 after acquiring an additional 136,350 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Frontier Communications Parent by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after purchasing an additional 732 shares during the last quarter. NBC Securities Inc. raised its position in shares of Frontier Communications Parent by 26,121.9% in the first quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock worth $2,145,000 after acquiring an additional 87,247 shares during the period. GAMMA Investing LLC increased its stake in shares of Frontier Communications Parent by 100.9% during the first quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in shares of Frontier Communications Parent by 11.0% during the first quarter. Wedmont Private Capital now owns 9,435 shares of the company’s stock worth $227,000 after purchasing an additional 935 shares in the last quarter.

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.