BTIG Research Forecasts Strong Price Appreciation for Frontline (NYSE:FRO) Stock

Frontline (NYSE:FRO) had its target price increased by analysts at BTIG Research from $45.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target points to a potential upside of 28.35% from the company’s current price.

FRO has been the topic of several other research reports. Danske lowered shares of Frontline to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Frontline from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Evercore downgraded shares of Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Dnb Carnegie downgraded Frontline from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Piper Sandler downgraded Frontline to a “neutral” rating in a report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.62.

Frontline Stock Performance

Frontline stock opened at $42.85 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03. Frontline has a 12 month low of $16.25 and a 12 month high of $42.89. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 10.55 and a beta of 0.02. The stock’s 50-day moving average is $36.98 and its 200-day moving average is $31.85.

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

Hedge Funds Weigh In On Frontline

Several institutional investors have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. boosted its stake in shares of Frontline by 1.1% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 38,601 shares of the shipping company’s stock worth $880,000 after acquiring an additional 430 shares in the last quarter. Cozad Asset Management Inc. boosted its holdings in shares of Frontline by 3.5% in the first quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company’s stock worth $458,000 after buying an additional 445 shares during the period. Bank of Montreal Can raised its holdings in shares of Frontline by 0.6% during the fourth quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock valued at $1,605,000 after acquiring an additional 460 shares during the period. Parallel Advisors LLC grew its position in Frontline by 58.9% during the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after purchasing an additional 486 shares in the last quarter. Finally, NFSG Corp raised its stake in Frontline by 50.0% during the 1st quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 500 shares during the period. 22.70% of the stock is owned by institutional investors.

About Frontline

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.