Frontline Ltd. (NYSE:FRO) was downgraded by Evercore ISI from an “in-line” rating to an “underperform” rating in a research note issued on Friday, July 21st, MarketBeat.com reports. They currently have a $4.00 price target on the shipping company’s stock, down from their prior price target of $6.00. Evercore ISI’s price objective would suggest a potential downside of 29.45% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Frontline from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. ValuEngine downgraded shares of Frontline from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. 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. BidaskClub raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group cut 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Frontline has an average rating of “Hold” and a consensus target price of $6.25.
Shares of Frontline (NYSE:FRO) opened at 5.67 on Friday. Frontline has a one year low of $5.35 and a one year high of $8.90. The stock’s 50 day moving average price is $5.76 and its 200 day moving average price is $6.41. The stock has a market cap of $962.82 million, a price-to-earnings ratio of 14.80 and a beta of 1.97.
Frontline (NYSE:FRO) last posted its quarterly earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. The company had revenue of $121.94 million for the quarter, compared to the consensus estimate of $103.70 million. Frontline had a net margin of 9.25% and a return on equity of 8.76%. Analysts forecast that Frontline will post $0.05 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares in the last quarter. American International Group Inc. raised its position in shares of Frontline by 7.6% in the first quarter. American International Group Inc. now owns 40,205 shares of the shipping company’s stock valued at $271,000 after buying an additional 2,841 shares in the last quarter. KCG Holdings Inc. raised its position in shares of Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after buying an additional 7,205 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Frontline by 6.8% in the first quarter. Teachers Advisors LLC now owns 114,881 shares of the shipping company’s stock valued at $774,000 after buying an additional 7,266 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Frontline by 8.6% in the first quarter. Swiss National Bank now owns 126,219 shares of the shipping company’s stock valued at $845,000 after buying an additional 10,000 shares in the last quarter. 10.90% of the stock is owned by institutional investors.
Frontline Company Profile
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