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

The Goldman Sachs Group started coverage on shares of Frontier Communications Parent (NASDAQ:FYBR) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $29.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Bank of America assumed coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a buy rating and a $30.00 price objective on the stock. TD Cowen cut their price objective on shares of 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, Citigroup lifted their price objective on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a buy rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $30.00.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $26.12 on Monday. The company has a 50 day moving average price of $25.57 and a 200-day moving average price of $24.33. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07. Frontier Communications Parent has a fifty-two week low of $11.65 and a fifty-two week high of $27.41. The company has a market capitalization of $6.49 billion, a PE ratio of 237.45 and a beta of 1.08.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its holdings in Frontier Communications Parent by 1.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 43,797 shares of the company’s stock worth $1,110,000 after purchasing an additional 441 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Frontier Communications Parent by 120.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock worth $25,000 after purchasing an additional 532 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Frontier Communications Parent by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company’s stock worth $1,683,000 after purchasing an additional 550 shares during the last quarter. Xponance Inc. grew its holdings in 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 purchasing an additional 559 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Frontier Communications Parent by 11.5% in 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.

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.