Frontier Communications (NASDAQ:FTR) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Other analysts have also issued research reports about the company. Vetr lowered Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 target price on the stock. in a research note on Tuesday, October 31st. Morgan Stanley reduced their target price on Frontier Communications to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $16.00 target price on shares of Frontier Communications in a research note on Sunday, September 17th. Zacks Investment Research upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Cowen reiterated a “hold” rating and issued a $14.00 target price on shares of Frontier Communications in a research note on Thursday, October 19th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.30.
Shares of Frontier Communications (NASDAQ:FTR) traded down $0.23 on Wednesday, reaching $7.11. The company had a trading volume of 3,643,400 shares, compared to its average volume of 3,046,181. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $57.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.
Hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP boosted its position in Frontier Communications by 900.0% during the second quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 9,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in Frontier Communications during the third quarter valued at about $124,000. Engineers Gate Manager LP bought a new stake in Frontier Communications during the third quarter valued at about $138,000. Crossmark Global Holdings Inc. bought a new stake in Frontier Communications during the third quarter valued at about $146,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Frontier Communications during the third quarter valued at about $174,000. 62.89% of the stock is currently owned by institutional investors.
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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