Frontline (NYSE:FRO) Rating Lowered to Sell at StockNews.com

Frontline (NYSE:FROGet Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Frontline from $7.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, September 6th. Jefferies Financial Group raised shares of Frontline from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Finally, HC Wainwright upped their target price on shares of Frontline from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, May 25th.

Frontline Price Performance

NYSE:FRO opened at $12.79 on Monday. The stock has a market cap of $2.85 billion, a P/E ratio of 41.26 and a beta of 0.10. Frontline has a one year low of $6.10 and a one year high of $13.49. The company has a fifty day moving average price of $10.96 and a 200 day moving average price of $9.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.06 and a quick ratio of 1.06.

Frontline (NYSE:FROGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. Frontline had a net margin of 7.18% and a return on equity of 0.01%. During the same period last year, the firm posted ($0.12) EPS. Analysts anticipate that Frontline will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FRO. Folketrygdfondet lifted its position in Frontline by 10,513.0% during the 2nd quarter. Folketrygdfondet now owns 10,740,390 shares of the shipping company’s stock valued at $95,160,000 after purchasing an additional 10,639,190 shares during the period. Renaissance Technologies LLC lifted its position in Frontline by 215.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,018,386 shares of the shipping company’s stock valued at $9,062,000 after purchasing an additional 696,057 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in shares of Frontline in the 4th quarter valued at approximately $4,626,000. Privium Fund Management UK Ltd acquired a new stake in shares of Frontline in the 1st quarter valued at approximately $26,910,000. Finally, Millennium Management LLC acquired a new stake in shares of Frontline in the 2nd quarter valued at approximately $5,673,000. 26.59% of the stock is currently owned by institutional investors and hedge funds.

About Frontline

(Get Rating)

Frontline Ltd., 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, 2021, 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 Hamilton, Bermuda.

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