Frontline Ltd. (NYSE:FRO) was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a report released on Friday, Marketbeat reports. They currently have a $4.00 price target on the shipping company’s stock, down from their prior price target of $6.00. Evercore ISI’s target price points to a potential downside of 32.20% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Frontline from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Seaport Global Securities raised shares of Frontline from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. BidaskClub raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Credit Suisse Group AG cut their target price on shares of Frontline from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.25.

Frontline (NYSE:FRO) traded down 6.79% on Friday, hitting $5.90. 1,537,320 shares of the company’s stock traded hands. Frontline has a one year low of $5.35 and a one year high of $8.90. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $6.51. The stock has a market cap of $1.00 billion, a PE ratio of 15.40 and a beta of 1.97.

Frontline (NYSE:FRO) last announced its earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Frontline had a net margin of 9.25% and a return on equity of 8.76%. The firm had revenue of $121.94 million for the quarter, compared to the consensus estimate of $103.70 million. On average, equities analysts forecast that Frontline will post $0.05 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in FRO. Evermore Global Advisors LLC increased its stake in shares of Frontline by 81.1% in the first quarter. Evermore Global Advisors LLC now owns 2,571,163 shares of the shipping company’s stock worth $17,330,000 after buying an additional 1,151,083 shares in the last quarter. Lingohr & Partner Asset Management GmbH increased its stake in shares of Frontline by 38.1% in the first quarter. Lingohr & Partner Asset Management GmbH now owns 1,666,000 shares of the shipping company’s stock worth $11,229,000 after buying an additional 460,019 shares in the last quarter. Boston Partners purchased a new stake in shares of Frontline during the first quarter worth approximately $2,231,000. Engineers Gate Manager LP increased its stake in shares of Frontline by 372.9% in the first quarter. Engineers Gate Manager LP now owns 128,761 shares of the shipping company’s stock worth $868,000 after buying an additional 101,531 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Frontline by 142.7% in the first quarter. Jane Street Group LLC now owns 141,292 shares of the shipping company’s stock worth $945,000 after buying an additional 83,078 shares in the last quarter. 11.09% of the stock is currently owned by institutional investors.

About Frontline

Analyst Recommendations for Frontline (NYSE:FRO)

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