Frontline Ltd. (FRO) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Frontline Ltd. (NYSE:FRO) from a sell rating to a hold rating in a research note issued to investors on Wednesday, July 19th.

FRO has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Frontline from a hold rating to a sell rating in a research note on Friday, May 5th. Credit Suisse Group reduced their target price on shares of Frontline from $8.00 to $6.00 and set a neutral rating on the stock in a research note on Wednesday, May 31st. ValuEngine downgraded shares of Frontline from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Seaport Global Securities raised shares of Frontline from a neutral rating to a buy rating and set a $8.00 target price on the stock in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $6.25.

Shares of Frontline (NYSE FRO) traded up 1.57% on Wednesday, reaching $5.82. 396,105 shares of the company traded hands. The company has a 50-day moving average of $5.75 and a 200-day moving average of $6.45. Frontline has a 1-year low of $5.35 and a 1-year high of $8.90. The stock has a market capitalization of $988.29 million, a price-to-earnings ratio of 15.20 and a beta of 1.97.

Frontline (NYSE:FRO) last announced its earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Frontline had a net margin of 9.25% and a return on equity of 8.76%. The business had revenue of $121.94 million for the quarter, compared to analyst estimates of $103.70 million. Analysts anticipate that Frontline will post $0.05 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in FRO. Evermore Global Advisors LLC increased its stake in shares of Frontline by 81.1% in the first quarter. Evermore Global Advisors LLC now owns 2,571,163 shares of the shipping company’s stock valued at $17,330,000 after buying an additional 1,151,083 shares during the last quarter. Lingohr & Partner Asset Management GmbH boosted its position in shares of Frontline by 38.1% in the first quarter. Lingohr & Partner Asset Management GmbH now owns 1,666,000 shares of the shipping company’s stock valued at $11,229,000 after buying an additional 460,019 shares during the last quarter. Boston Partners bought a new position in shares of Frontline during the first quarter valued at about $2,231,000. Engineers Gate Manager LP boosted its position in shares of Frontline by 372.9% in the first quarter. Engineers Gate Manager LP now owns 128,761 shares of the shipping company’s stock valued at $868,000 after buying an additional 101,531 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Frontline by 142.7% in the first quarter. Jane Street Group LLC now owns 141,292 shares of the shipping company’s stock valued at $945,000 after buying an additional 83,078 shares during the last quarter. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

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