Frontier Communications (FTR) Upgraded to “Buy” by BidaskClub
Frontier Communications (NASDAQ:FTR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other research firms have also weighed in on FTR. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price target (down from $16.00) on shares of Frontier Communications in a research report on Monday, November 20th. Zacks Investment Research lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Wells Fargo & Company reiterated a “market perform” rating and issued a $9.00 price target (down from $14.50) on shares of Frontier Communications in a research report on Thursday, November 2nd. Vetr lowered shares of Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 price target for the company. in a research report on Tuesday, October 31st. Finally, J P Morgan Chase & Co lowered shares of Frontier Communications from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $8.00 in a research report on Wednesday, November 1st. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.30.
Frontier Communications (FTR) traded down $0.61 on Tuesday, hitting $8.08. 10,252,460 shares of the company’s stock were exchanged, compared to its average volume of 4,990,000. Frontier Communications has a fifty-two week low of $6.08 and a fifty-two week high of $57.30. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70.
Several large investors have recently modified their holdings of FTR. Steward Partners Investment Advisory LLC purchased a new stake in Frontier Communications during the third quarter valued at $176,000. Engineers Gate Manager LP purchased a new stake in Frontier Communications during the third quarter valued at $138,000. Pinnacle Associates Ltd. purchased a new stake in Frontier Communications during the third quarter valued at $535,000. Virginia Retirement Systems ET AL purchased a new stake in Frontier Communications during the third quarter valued at $174,000. Finally, SG Americas Securities LLC raised its stake in Frontier Communications by 109.9% during the third quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 357,493 shares in the last quarter. Hedge funds and other institutional investors own 67.62% of the company’s stock.
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Frontier Communications Company Profile
Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).
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