Wall Street Zen Upgrades Frontline (NYSE:FRO) to “Strong-Buy”

Frontline (NYSE:FRO) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other analysts also recently issued reports on FRO. Dnb Carnegie downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Evercore downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective for the company. in a research report on Monday, May 25th. BTIG Research lifted their target price on Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Weiss Ratings upgraded Frontline from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Frontline currently has an average rating of “Hold” and an average price target of $41.62.

Frontline Trading Down 7.8%

Frontline stock opened at $35.48 on Friday. Frontline has a 1 year low of $16.25 and a 1 year high of $43.10. The firm’s 50 day moving average price is $37.19 and its 200-day moving average price is $32.10. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $7.90 billion, a P/E ratio of 8.74 and a beta of 0.02.

Frontline (NYSE:FRO) last issued its earnings results on Friday, May 22nd. The shipping company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.03). The company had revenue of $714.24 million for the quarter, compared to the consensus estimate of $579.59 million. Frontline had a return on equity of 27.80% and a net margin of 36.70%.Frontline’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS.

Institutional Investors Weigh In On Frontline

A number of hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in Frontline during the fourth quarter valued at $25,000. Assetmark Inc. grew its stake in shares of Frontline by 278.6% in the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock worth $34,000 after buying an additional 716 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Frontline in the 3rd quarter worth about $41,000. Parallel Advisors LLC increased its holdings in shares of Frontline by 58.9% in the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after buying an additional 486 shares during the last quarter. Finally, NFSG Corp increased its holdings in shares of Frontline by 50.0% in the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock worth $52,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors 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.