Frontline (FRO) Stock Rating Upgraded by DNB Markets

Frontline (NYSE:FRO) was upgraded by investment analysts at DNB Markets from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, March 6th.

Other research analysts also recently issued research reports about the company. ValuEngine downgraded Frontline from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Zacks Investment Research raised Frontline from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, Seaport Global Securities set a $7.00 price objective on Frontline and gave the company a “buy” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.67.

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NYSE:FRO traded up $0.04 on Tuesday, reaching $4.43. The company’s stock had a trading volume of 478,671 shares, compared to its average volume of 565,453. The company has a market capitalization of $752.23, a P/E ratio of -147.67 and a beta of 1.89. Frontline has a 1 year low of $3.79 and a 1 year high of $6.97. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.17 and a current ratio of 1.45.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Wednesday, February 28th. The shipping company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.11. The firm had revenue of $99.20 million during the quarter, compared to the consensus estimate of $88.40 million. Frontline had a negative return on equity of 0.31% and a negative net margin of 40.98%. equities research analysts forecast that Frontline will post -0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. PEAK6 Investments L.P. acquired a new stake in Frontline during the fourth quarter valued at approximately $110,000. Voya Investment Management LLC raised its stake in Frontline by 24.4% during the second quarter. Voya Investment Management LLC now owns 32,821 shares of the shipping company’s stock valued at $188,000 after buying an additional 6,432 shares in the last quarter. Legal & General Group Plc raised its stake in Frontline by 110.6% during the third quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock valued at $204,000 after buying an additional 17,759 shares in the last quarter. Engineers Gate Manager LP raised its stake in Frontline by 243.2% during the third quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock valued at $221,000 after buying an additional 25,981 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in Frontline by 299.3% during the fourth quarter. Virtu Financial LLC now owns 50,969 shares of the shipping company’s stock valued at $234,000 after buying an additional 38,205 shares in the last quarter. Hedge funds and other institutional investors own 14.41% of the company’s stock.

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Frontline Company Profile

Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).

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