Frontline (NYSE:FRO) Downgraded by DZ Bank to "Sell"

Key Points

• DZ Bank downgraded Frontline from “Hold” to “Sell,” while Danske also issued a “Sell” rating. The broader analyst consensus remains “Hold,” with an average price target of $41.62.
• Frontline shares fell 2.1% to open at $43.53, near the company’s 12-month high of $45.17. The stock has a market capitalization of approximately $9.69 billion and a P/E ratio of 10.72.
• Institutional investors recently increased their exposure, and hedge funds and other institutions collectively own 22.70% of Frontline’s stock.

Frontline (NYSE:FRO - Get Free Report) was downgraded by investment analysts at DZ Bank from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

A number of other equities analysts have also issued reports on FRO. BTIG Research raised their target price on Frontline from $45.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Pareto Securities cut Frontline from a "buy" rating to a "hold" rating and set a $39.46 price objective for the company. in a research note on Monday, May 25th. Wall Street Zen downgraded Frontline from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Danske lowered Frontline from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Weiss Ratings downgraded shares of Frontline from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.62.

Frontline Trading Down 2.1%

NYSE FRO opened at $43.53 on Friday. Frontline has a 12-month low of $19.45 and a 12-month high of $45.17. The company has a fifty day simple moving average of $38.88 and a two-hundred day simple moving average of $36.20. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market cap of $9.69 billion, a P/E ratio of 10.72 and a beta of 0.02.

Hedge Funds Weigh In On Frontline

Institutional investors have recently modified their holdings of the stock. Triumph Capital Management lifted its holdings in shares of Frontline by 131.0% in the 2nd quarter. Triumph Capital Management now owns 8,931 shares of the shipping company's stock valued at $311,000 after buying an additional 5,064 shares during the period. BTG Pactual Asset Management US LLC acquired a new stake in Frontline during the second quarter worth about $1,135,000. Quantitative Investment Management LLC acquired a new stake in Frontline during the second quarter worth about $270,000. GTS Securities LLC purchased a new position in Frontline during the second quarter valued at approximately $222,000. Finally, Empowered Funds LLC purchased a new position in Frontline during the second quarter valued at approximately $2,950,000. Hedge funds and other institutional investors own 22.70% of the company's stock.

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.

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