Frontline (NYSE:FRO) Raised to Strong-Buy at Wall Street Zen

Frontline (NYSE:FRO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Other research analysts have also issued reports about the company. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective on the stock. in a research report on Monday, May 25th. BTIG Research increased their target price on Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings downgraded Frontline from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Danske downgraded shares of Frontline from a “hold” rating to a “sell” rating in a research report on Friday, August 21st. Finally, DZ Bank lowered shares of Frontline from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Frontline currently has a consensus rating of “Hold” and an average price target of $41.62.

Frontline Price Performance

Frontline stock opened at $44.02 on Friday. The firm has a fifty day moving average of $39.32 and a 200-day moving average of $36.82. Frontline has a 52-week low of $20.31 and a 52-week high of $45.29. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.80 billion, a P/E ratio of 10.84 and a beta of 0.02.

Frontline (NYSE:FRO) last posted its earnings results on Friday, August 28th. The shipping company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.22. Frontline had a net margin of 36.70% and a return on equity of 27.80%. The business had revenue of $943.30 million for the quarter, compared to analyst estimates of $758.85 million. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 96.5% on a year-over-year basis.

Hedge Funds Weigh In On Frontline

Several large investors have recently modified their holdings of FRO. Vanguard Group Inc. grew its stake in Frontline by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock worth $129,966,000 after purchasing an additional 63,432 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Frontline by 4,659.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock valued at $202,080,000 after buying an additional 5,662,172 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Frontline by 44.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock worth $51,212,000 after buying an additional 686,212 shares during the last quarter. BlackRock Inc. bought a new position in Frontline during the 2nd quarter worth approximately $50,846,000. Finally, UBS Group AG grew its position in shares of Frontline by 18.2% in the 4th quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock worth $30,794,000 after acquiring an additional 217,760 shares in the last quarter. Institutional investors own 22.70% of the company’s stock.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.