Frontline (NYSE:FRO) Upgraded by Wall Street Zen to “Hold” Rating

Frontline (NYSE:FRO) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts also recently issued reports on the company. Kepler Capital Markets set a $12.49 price target on Frontline in a research report on Thursday, March 27th. Evercore ISI reduced their target price on shares of Frontline from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Frontline presently has a consensus rating of “Moderate Buy” and an average price target of $20.62.

Frontline Trading Down 2.4%

FRO opened at $16.96 on Friday. The stock has a 50-day moving average of $17.71 and a 200 day moving average of $16.43. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.44. Frontline has a 12 month low of $12.40 and a 12 month high of $26.53. The firm has a market cap of $3.78 billion, a P/E ratio of 10.87 and a beta of 0.28.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Friday, May 23rd. The shipping company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $427.87 million during the quarter, compared to analyst estimates of $252.26 million. Frontline had a return on equity of 12.67% and a net margin of 17.67%. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. As a group, research analysts forecast that Frontline will post 1.78 EPS for the current year.

Institutional Trading of Frontline

Several institutional investors and hedge funds have recently made changes to their positions in FRO. Jones Financial Companies Lllp bought a new position in shares of Frontline in the fourth quarter worth about $31,000. SVB Wealth LLC purchased a new stake in Frontline in the 1st quarter valued at about $32,000. Bayforest Capital Ltd purchased a new stake in Frontline in the 1st quarter valued at about $34,000. Signaturefd LLC grew its stake in Frontline by 59.3% in the 1st quarter. Signaturefd LLC now owns 2,657 shares of the shipping company’s stock worth $39,000 after acquiring an additional 989 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Frontline by 331.8% during the fourth quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company’s stock worth $87,000 after acquiring an additional 4,738 shares during the period. 22.70% of the stock is currently owned by institutional investors.

Frontline Company Profile

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.