Raymond James & Associates Buys 4,993 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Raymond James & Associates lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,635 shares of the company’s stock after acquiring an additional 4,993 shares during the quarter. Raymond James & Associates’ holdings in Frontier Communications Parent were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its position in shares of Frontier Communications Parent by 0.5% during 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 acquiring an additional 550 shares during the last quarter. California State Teachers Retirement System increased its holdings in Frontier Communications Parent by 0.4% in the first quarter. California State Teachers Retirement System now owns 155,920 shares of the company’s stock worth $4,314,000 after purchasing an additional 682 shares in the last quarter. First Trust Advisors LP increased its holdings in Frontier Communications Parent by 0.3% in the third quarter. First Trust Advisors LP now owns 222,959 shares of the company’s stock worth $5,224,000 after purchasing an additional 689 shares in the last quarter. Arizona State Retirement System increased its holdings in Frontier Communications Parent by 1.4% in the third quarter. Arizona State Retirement System now owns 52,395 shares of the company’s stock worth $820,000 after purchasing an additional 736 shares in the last quarter. Finally, BOKF NA increased its holdings in Frontier Communications Parent by 13.8% in the second quarter. BOKF NA now owns 7,628 shares of the company’s stock worth $142,000 after purchasing an additional 923 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FYBR shares. 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 target price for the company. Citigroup upgraded Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $30.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Moderate Buy” and an average target price of $27.43.

Frontier Communications Parent Trading Down 3.9 %

Shares of Frontier Communications Parent stock opened at $21.70 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. Frontier Communications Parent, Inc. has a 52 week low of $11.65 and a 52 week high of $25.89. The stock has a 50 day moving average price of $23.44 and a two-hundred day moving average price of $22.17. The stock has a market capitalization of $5.39 billion, a PE ratio of 180.83 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $1.43 billion for 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 quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current fiscal year.

About Frontier Communications Parent

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.