Wall Street Zen Downgrades Frontline (NYSE:FRO) to Buy

Frontline (NYSE:FRO) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts have also recently issued reports on FRO. Danske cut Frontline to a “hold” rating in a report on Tuesday, May 26th. Pareto Securities lowered Frontline from a “buy” rating to a “hold” rating and set a $39.46 target price for the company. in a research note on Monday, May 25th. Weiss Ratings downgraded Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Evercore lowered Frontline from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, BTIG Research lifted their price target on Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.62.

Frontline Stock Down 0.0%

Shares of NYSE FRO opened at $41.20 on Friday. The firm has a market cap of $9.17 billion, a P/E ratio of 10.15 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. Frontline has a 1 year low of $18.43 and a 1 year high of $43.10. The firm’s 50 day moving average price is $38.30 and its 200 day moving average price is $35.77.

Institutional Trading of Frontline

A number of institutional investors and hedge funds have recently made changes to their positions in FRO. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Frontline in the 4th quarter worth $25,000. Fiduciary Financial Advisors purchased a new stake in Frontline during the second quarter valued at about $28,000. Assetmark Inc. grew its position in Frontline by 278.6% during the first quarter. Assetmark Inc. now owns 973 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 716 shares during the period. Sunbelt Securities Inc. purchased a new stake in Frontline during the third quarter valued at about $41,000. Finally, Parallel Advisors LLC increased its stake in Frontline by 58.9% during the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after acquiring an additional 486 shares during the last quarter. 22.70% of the stock is currently owned by institutional investors and hedge funds.

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.