Handelsbanken Fonder AB Grows Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Handelsbanken Fonder AB boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,000 shares of the company’s stock after acquiring an additional 5,400 shares during the period. Handelsbanken Fonder AB’s holdings in Frontier Communications Parent were worth $1,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FYBR. Raymond James & Associates grew its holdings in Frontier Communications Parent by 123.5% in the third quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock worth $761,000 after purchasing an additional 26,877 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Frontier Communications Parent in the third quarter worth $234,000. New York State Teachers Retirement System grew its stake in shares of Frontier Communications Parent by 11.4% in the third quarter. New York State Teachers Retirement System now owns 171,708 shares of the company’s stock worth $2,687,000 after acquiring an additional 17,555 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontier Communications Parent by 11.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock worth $548,000 after purchasing an additional 3,592 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Frontier Communications Parent by 1,282.2% during the 3rd quarter. Mackenzie Financial Corp now owns 358,647 shares of the company’s stock valued at $5,613,000 after purchasing an additional 332,700 shares during the last quarter.

Frontier Communications Parent Stock Performance

FYBR opened at $22.93 on Monday. Frontier Communications Parent, Inc. has a 12-month low of $11.65 and a 12-month high of $25.89. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 191.08 and a beta of 1.05. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. The company’s 50 day moving average is $23.45 and its 200 day moving average is $22.52.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $0.63 EPS. Frontier Communications Parent’s revenue was down .8% on a year-over-year basis. On average, equities research analysts predict that Frontier Communications Parent, Inc. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FYBR. Bank of America started coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target on the stock. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus price target of $27.43.

Frontier Communications Parent 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.