Frontier Communications (NASDAQ:FTR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company restated a “market perform” rating and issued a $9.00 price objective (down from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a report on Friday, November 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $8.00 price objective (down from $16.00) on shares of Frontier Communications in a report on Monday, November 20th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Frontier Communications has an average rating of “Hold” and an average target price of $9.46.
Shares of Frontier Communications (NASDAQ:FTR) traded down $0.01 during mid-day trading on Tuesday, hitting $10.05. 4,658,234 shares of the stock were exchanged, compared to its average volume of 2,968,931. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $57.30. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16.
A number of institutional investors and hedge funds have recently bought and sold shares of FTR. Gotham Asset Management LLC raised its holdings in Frontier Communications by 340.9% in the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock worth $22,941,000 after purchasing an additional 15,290,477 shares during the period. Vanguard Group Inc. raised its holdings in Frontier Communications by 9.9% in the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after purchasing an additional 10,474,703 shares during the period. Coatue Management LLC acquired a new stake in Frontier Communications in the second quarter worth $8,223,000. Quantitative Investment Management LLC increased its position in shares of Frontier Communications by 549.6% during the second quarter. Quantitative Investment Management LLC now owns 8,279,600 shares of the utilities provider’s stock worth $9,604,000 after acquiring an additional 7,005,100 shares in the last quarter. Finally, State Street Corp increased its position in shares of Frontier Communications by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after acquiring an additional 6,445,036 shares in the last quarter. Institutional investors own 67.62% of the company’s stock.
About Frontier Communications
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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