Frontier Communications Parent (NASDAQ:FYBR) Reaches New 52-Week High – Should You Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR) reached a new 52-week high on Tuesday . The company traded as high as $38.31 and last traded at $38.2450, with a volume of 1408273 shares changing hands. The stock had previously closed at $38.11.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Frontier Communications Parent Trading Up 0.3%

The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $9.57 billion, a P/E ratio of -25.14 and a beta of 0.94. The company has a 50-day simple moving average of $38.00 and a 200-day simple moving average of $37.41.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted ($0.33) earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Frontier Communications Parent by 63.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,803 shares of the company’s stock valued at $756,000 after purchasing an additional 7,661 shares in the last quarter. Wedmont Private Capital boosted its position in Frontier Communications Parent by 2.3% in the 4th quarter. Wedmont Private Capital now owns 31,632 shares of the company’s stock valued at $1,209,000 after buying an additional 714 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Frontier Communications Parent by 469.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,138 shares of the company’s stock valued at $43,000 after buying an additional 938 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Frontier Communications Parent by 45.0% in the 4th quarter. GAMMA Investing LLC now owns 9,149 shares of the company’s stock valued at $348,000 after buying an additional 2,838 shares during the period. Finally, New Mexico Educational Retirement Board raised its position in shares of Frontier Communications Parent by 13.4% during the third quarter. New Mexico Educational Retirement Board now owns 51,700 shares of the company’s stock worth $1,931,000 after acquiring an additional 6,100 shares during the last quarter.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.