Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase - Time to Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 4,143,592 shares traded hands 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

A number of research firms have recently commented on FYBR. Moffett Nathanson cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 5th. UBS Group cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 6th. TD Cowen lowered shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and dropped their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Citigroup cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Stock Performance

The firm has a fifty day moving average of $32.58 and a 200 day moving average of $28.00. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 320.45 and a beta of 1.10. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.79 EPS for the current year.

Institutional Trading of Frontier Communications Parent

Several institutional investors have recently made changes to their positions in the company. Creative Planning lifted its stake in shares of Frontier Communications Parent by 21.5% in the 3rd quarter. Creative Planning now owns 14,383 shares of the company's stock valued at $511,000 after purchasing an additional 2,541 shares during the last quarter. Affinity Wealth Management LLC purchased a new stake in Frontier Communications Parent in the 3rd quarter valued at about $4,060,000. Wedmont Private Capital lifted its position in Frontier Communications Parent by 51.8% in the third quarter. Wedmont Private Capital now owns 15,292 shares of the company's stock valued at $540,000 after buying an additional 5,217 shares during the last quarter. GAMMA Investing LLC boosted its stake in Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company's stock worth $99,000 after buying an additional 444 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Frontier Communications Parent by 32.0% during the third quarter. Handelsbanken Fonder AB now owns 56,900 shares of the company's stock valued at $2,022,000 after acquiring an additional 13,800 shares during the last quarter.

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.