Frontline (NYSE:FRO) Given New $45.00 Price Target at BTIG Research

Key Points

• BTIG Research raised its price target on Frontline to $45.00 (from $42) and maintained a "buy" rating, implying about a 27.10% upside from the current price.
• Analyst consensus is mixed-to-positive with four Buy and three Hold ratings, giving Frontline an average "Moderate Buy" rating and an average price target of $39.00.
• In the latest quarter Frontline reported EPS $1.03 (missing estimates) but revenue of $624.51 million that beat expectations and rose 46.7% year‑over‑year, with a net margin of 19.31%.

Frontline (NYSE:FRO - Get Free Report) had its target price hoisted by research analysts at BTIG Research from $42.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the shipping company's stock. BTIG Research's price objective indicates a potential upside of 27.10% from the company's current price.

FRO has been the topic of several other reports. Weiss Ratings restated a "hold (c)" rating on shares of Frontline in a report on Friday, March 27th. Clarkson Capital upgraded shares of Frontline from a "neutral" rating to a "buy" rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of Frontline from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Dnb Carnegie cut shares of Frontline from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. Finally, Piper Sandler cut shares of Frontline to a "neutral" rating in a report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Frontline presently has an average rating of "Moderate Buy" and an average price target of $39.00.

Frontline Price Performance

Shares of FRO opened at $35.40 on Wednesday. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 20.83 and a beta of 0.05. Frontline has a fifty-two week low of $14.97 and a fifty-two week high of $39.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.43 and a quick ratio of 1.19. The business's 50-day moving average is $34.37 and its 200-day moving average is $27.80.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Saturday, February 28th. The shipping company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.10). The business had revenue of $624.51 million during the quarter, compared to analyst estimates of $456.90 million. Frontline had a net margin of 19.31% and a return on equity of 16.51%. Frontline's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS.

Institutional Investors Weigh In On Frontline

A number of large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in Frontline in the fourth quarter worth $25,000. Sunbelt Securities Inc. bought a new stake in Frontline in the third quarter worth $41,000. Sound Income Strategies LLC bought a new stake in Frontline in the fourth quarter worth $53,000. CIBC Private Wealth Group LLC bought a new stake in Frontline in the third quarter worth $80,000. Finally, Triumph Capital Management bought a new stake in Frontline in the third quarter worth $97,000. 22.70% of the stock is currently owned by institutional investors.

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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