Zacks Investment Research Downgrades Frontline (FRO) to Sell

Frontline (NYSE:FRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “

Separately, Seaport Global Securities set a $7.00 price objective on Frontline and gave the stock a “buy” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.67.

Frontline (FRO) opened at $4.81 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $6,710.00, a price-to-earnings ratio of 30.06 and a beta of 1.88. Frontline has a twelve month low of $4.47 and a twelve month high of $7.34.

Institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Frontline by 197.8% in the second quarter. Northern Trust Corp now owns 1,795,843 shares of the shipping company’s stock worth $10,290,000 after purchasing an additional 1,192,899 shares in the last quarter. Teachers Advisors LLC raised its holdings in Frontline by 18.2% in the second quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock worth $778,000 after purchasing an additional 20,935 shares in the last quarter. State Street Corp raised its holdings in Frontline by 18.1% in the second quarter. State Street Corp now owns 1,282,370 shares of the shipping company’s stock worth $7,351,000 after purchasing an additional 196,952 shares in the last quarter. Jane Street Group LLC raised its holdings in Frontline by 218.0% in the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock worth $2,435,000 after purchasing an additional 272,875 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Frontline by 12.0% in the second quarter. TIAA CREF Investment Management LLC now owns 202,366 shares of the shipping company’s stock worth $1,160,000 after purchasing an additional 21,700 shares in the last quarter. Institutional investors and hedge funds own 13.23% of the company’s stock.

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Frontline Company Profile

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