Frontline (NYSE:FRO) had its target price boosted by equities researchers at Deutsche Bank from $6.00 to $7.00 in a research report issued on Tuesday. The firm presently has a “hold” rating on the shipping company’s stock. Deutsche Bank’s price target would suggest a potential upside of 1.16% from the stock’s previous close.

A number of other research analysts have also weighed in on FRO. ValuEngine raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. BTIG Research began coverage on shares of Frontline in a research report on Thursday, September 27th. They set a “neutral” rating on the stock. Jefferies Financial Group began coverage on shares of Frontline in a research report on Monday, October 1st. They set a “hold” rating and a $6.00 price target on the stock. Danske raised shares of Frontline from a “sell” rating to a “buy” rating in a research report on Thursday, November 15th. Finally, Morgan Stanley raised their price target on shares of Frontline from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Frontline presently has a consensus rating of “Buy” and an average target price of $6.44.

Shares of NYSE FRO opened at $6.92 on Tuesday. The firm has a market cap of $1.18 billion, a P/E ratio of -230.67 and a beta of 0.81. Frontline has a 12-month low of $3.79 and a 12-month high of $8.33. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.32 and a current ratio of 1.32.

Frontline (NYSE:FRO) last issued its earnings results on Friday, November 16th. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.08. The business had revenue of $89.21 million for the quarter, compared to analyst estimates of $79.90 million. Frontline had a negative net margin of 40.17% and a negative return on equity of 3.87%. During the same period in the prior year, the firm earned ($0.08) earnings per share. Equities research analysts predict that Frontline will post -0.29 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC increased its holdings in Frontline by 3.3% during the third quarter. Evermore Global Advisors LLC now owns 5,687,632 shares of the shipping company’s stock worth $33,045,000 after buying an additional 181,826 shares during the last quarter. BlackRock Inc. increased its stake in shares of Frontline by 1.0% in the third quarter. BlackRock Inc. now owns 3,633,341 shares of the shipping company’s stock worth $21,108,000 after purchasing an additional 36,489 shares in the last quarter. Northern Trust Corp increased its stake in shares of Frontline by 3.7% in the second quarter. Northern Trust Corp now owns 2,441,655 shares of the shipping company’s stock worth $14,260,000 after purchasing an additional 86,696 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Frontline by 34.2% in the second quarter. Renaissance Technologies LLC now owns 1,559,601 shares of the shipping company’s stock worth $9,101,000 after purchasing an additional 397,101 shares in the last quarter. Finally, GAM Holding AG increased its stake in shares of Frontline by 22.5% in the second quarter. GAM Holding AG now owns 1,322,550 shares of the shipping company’s stock worth $7,724,000 after purchasing an additional 242,788 shares in the last quarter. 16.25% of the stock is currently owned by institutional investors.

About Frontline

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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Analyst Recommendations for Frontline (NYSE:FRO)

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