Frontline (NYSE:FRO) Price Target Raised to $42.00

Frontline (NYSE:FRO) had its target price upped by BTIG Research from $35.00 to $42.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price objective suggests a potential upside of 15.46% from the company’s current price.

FRO has been the topic of a number of other research reports. Jefferies Financial Group boosted their target price on shares of Frontline from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Clarkson Capital upgraded shares of Frontline from a “neutral” rating to a “buy” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Frontline has a consensus rating of “Moderate Buy” and an average target price of $27.62.

Frontline Trading Down 2.4%

Shares of FRO traded down $0.91 during trading hours on Friday, hitting $36.38. 3,531,577 shares of the stock were exchanged, compared to its average volume of 3,341,449. Frontline has a fifty-two week low of $12.40 and a fifty-two week high of $37.95. The business has a 50-day moving average of $27.06 and a 200-day moving average of $24.27. The firm has a market capitalization of $8.10 billion, a P/E ratio of 37.16 and a beta of 0.07. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.37 and a quick ratio of 1.37.

Frontline (NYSE:FRO) last issued its quarterly earnings results on Friday, February 27th. The shipping company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). Frontline had a return on equity of 8.89% and a net margin of 12.23%.During the same period last year, the company earned $0.20 EPS. The business’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, research analysts expect that Frontline will post 1.78 EPS for the current year.

Hedge Funds Weigh In On Frontline

Hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of Frontline by 2.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,717 shares of the shipping company’s stock valued at $335,000 after purchasing an additional 418 shares in the last quarter. Cantor Fitzgerald L. P. boosted its stake in shares of Frontline by 1.1% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after buying an additional 430 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Frontline by 0.6% in the 4th quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock worth $1,605,000 after buying an additional 460 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Frontline by 3.5% during the third quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock valued at $369,000 after acquiring an additional 552 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Frontline by 6.3% during the 3rd quarter. TD Asset Management Inc now owns 18,163 shares of the shipping company’s stock valued at $415,000 after purchasing an additional 1,084 shares during the last quarter. 22.70% of the stock is owned by hedge funds and other institutional investors.

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.