Frontline (NYSE:FRO) Stock Rating Upgraded by Wall Street Zen

Frontline (NYSE:FRO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other research firms have also recently weighed in on FRO. Jefferies Financial Group restated a “buy” rating and issued a $25.00 price target on shares of Frontline in a research note on Friday, August 29th. BTIG Research boosted their price target on Frontline from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.87.

Frontline Stock Down 0.1%

FRO stock opened at $23.08 on Friday. Frontline has a 1-year low of $12.40 and a 1-year high of $25.68. The business has a fifty day moving average price of $20.73 and a 200-day moving average price of $18.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $5.14 billion, a P/E ratio of 21.57 and a beta of 0.25.

Frontline (NYSE:FRO) last posted its quarterly earnings results on Friday, August 29th. The shipping company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). Frontline had a return on equity of 10.27% and a net margin of 12.94%.The business had revenue of $282.95 million during the quarter, compared to analysts’ expectations of $328.71 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts forecast that Frontline will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of Frontline

Large investors have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of Frontline in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Frontline in the second quarter worth about $33,000. SVB Wealth LLC purchased a new stake in shares of Frontline in the first quarter worth about $32,000. Bayforest Capital Ltd purchased a new stake in shares of Frontline in the first quarter worth about $34,000. Finally, Signaturefd LLC lifted its position in shares of Frontline by 59.3% in the first quarter. Signaturefd LLC now owns 2,657 shares of the shipping company’s stock worth $39,000 after buying an additional 989 shares in the last quarter. Institutional investors own 22.70% of the company’s stock.

About Frontline

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.