The Goldman Sachs Group Initiates Coverage on Frontier Communications Parent (NASDAQ:FYBR)

Stock analysts at The Goldman Sachs Group started coverage on shares of Frontier Communications Parent (NASDAQ:FYBR) in a research note issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 11.24% from the company’s previous close.

FYBR has been the topic of several other reports. Citigroup upped their target price on Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. TD Cowen cut their price objective on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Bank of America started coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Frontier Communications Parent Trading Up 0.0 %

Shares of NASDAQ:FYBR opened at $26.07 on Monday. The business’s 50-day moving average is $25.50 and its 200 day moving average is $24.32. Frontier Communications Parent has a 1 year low of $11.65 and a 1 year high of $27.41. The firm has a market capitalization of $6.48 billion, a P/E ratio of 237.00 and a beta of 1.08. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07.

Institutional Trading of Frontier Communications Parent

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its stake in shares of Frontier Communications Parent by 62.8% in the fourth quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock worth $14,797,000 after buying an additional 225,293 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Frontier Communications Parent by 0.5% in the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after buying an additional 118,939 shares during the last quarter. Tudor Investment Corp Et Al boosted its stake in shares of Frontier Communications Parent by 63.4% in the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after buying an additional 140,943 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Frontier Communications Parent by 83.9% in the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after buying an additional 704,857 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Frontier Communications Parent in the fourth quarter worth about $50,269,000.

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.