Frontline (NYSE:FRO) Upgraded at StockNews.com

Frontline (NYSE:FRO) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research report issued on Thursday.

A number of other brokerages have also weighed in on FRO. Evercore ISI lowered their target price on Frontline from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price objective on shares of Frontline in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.58.

Frontline Price Performance

NYSE:FRO opened at $22.22 on Thursday. The company has a market cap of $4.95 billion, a P/E ratio of 7.77 and a beta of 0.03. The firm’s fifty day moving average price is $23.87 and its two-hundred day moving average price is $24.45. Frontline has a one year low of $15.94 and a one year high of $29.39. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.75 and a quick ratio of 1.75.

Frontline (NYSE:FRO) last announced its earnings results on Friday, August 30th. The shipping company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). The company had revenue of $409.72 million for the quarter, compared to the consensus estimate of $383.88 million. Frontline had a return on equity of 23.14% and a net margin of 32.94%. During the same period in the previous year, the firm posted $0.94 EPS. Equities analysts expect that Frontline will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Frontline

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Frontline during the 2nd quarter valued at $31,000. ICA Group Wealth Management LLC bought a new stake in Frontline during the fourth quarter worth about $25,000. Summit Securities Group LLC grew its stake in Frontline by 75.0% during the second quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock worth $36,000 after buying an additional 600 shares in the last quarter. Blue Trust Inc. increased its holdings in Frontline by 17,866.7% in the 2nd quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock valued at $56,000 after buying an additional 2,144 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its holdings in Frontline by 150.6% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 3,619 shares of the shipping company’s stock valued at $85,000 after buying an additional 2,175 shares during the period. Institutional investors and hedge funds own 22.70% of the company’s stock.

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.