Frontline (NYSE:FRO) Upgraded at Wall Street Zen

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

A number of other brokerages have also recently weighed in on FRO. BTIG Research upped their price target on Frontline from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Piper Sandler cut Frontline to a “neutral” rating in a report on Friday, February 27th. Evercore restated an “outperform” rating and issued a $42.00 target price on shares of Frontline in a research note on Friday, February 27th. Clarkson Capital raised shares of Frontline from a “neutral” rating to a “buy” rating in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Frontline Stock Down 0.1%

NYSE FRO opened at $36.57 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $32.65 and its two-hundred day moving average is $26.72. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 21.51 and a beta of 0.05. Frontline has a 1-year low of $12.40 and a 1-year high of $39.89.

Frontline (NYSE:FRO) last released its quarterly earnings data on Saturday, February 28th. The shipping company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.10). The company had revenue of $624.51 million during the quarter, compared to the consensus estimate of $456.90 million. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The company’s revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. Equities analysts forecast that Frontline will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontline

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Frontline by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock valued at $129,966,000 after buying an additional 63,432 shares in the last quarter. Balyasny Asset Management L.P. lifted its position 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 in the last quarter. Marshall Wace LLP grew its holdings in Frontline by 155.1% during the 2nd quarter. Marshall Wace LLP now owns 1,692,537 shares of the shipping company’s stock worth $27,775,000 after acquiring an additional 1,029,034 shares during the last quarter. UBS Group AG increased its position in Frontline by 18.2% in the 4th quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock valued at $30,794,000 after acquiring an additional 217,760 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Frontline by 20.6% in the 3rd quarter. SG Americas Securities LLC now owns 1,058,260 shares of the shipping company’s stock valued at $24,118,000 after acquiring an additional 180,731 shares in the last quarter. Institutional investors and hedge funds 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.