Frontline (NYSE:FRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “

Separately, Seaport Global Securities set a $7.00 price target on Frontline and gave the stock a “buy” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.67.

Shares of Frontline (NYSE FRO) traded down $0.07 during midday trading on Tuesday, reaching $4.80. The company’s stock had a trading volume of 650,200 shares, compared to its average volume of 979,200. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $6,700.00, a P/E ratio of 30.00 and a beta of 1.88. Frontline has a fifty-two week low of $4.47 and a fifty-two week high of $7.34.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its holdings in Frontline by 24.4% in the second quarter. Voya Investment Management LLC now owns 32,821 shares of the shipping company’s stock worth $188,000 after acquiring an additional 6,432 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Frontline by 17.6% in the second quarter. The Manufacturers Life Insurance Company now owns 59,870 shares of the shipping company’s stock worth $343,000 after acquiring an additional 8,958 shares in the last quarter. Rhumbline Advisers boosted its holdings in Frontline by 13.6% in the second quarter. Rhumbline Advisers now owns 89,914 shares of the shipping company’s stock worth $515,000 after acquiring an additional 10,774 shares in the last quarter. Legal & General Group Plc boosted its holdings in Frontline by 110.6% in the third quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock worth $204,000 after acquiring an additional 17,759 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Frontline by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 257,954 shares of the shipping company’s stock worth $1,479,000 after acquiring an additional 18,354 shares in the last quarter. 13.23% of the stock is owned by institutional investors and hedge funds.

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