Frontline (NYSE:FRO) Upgraded to Hold at Wall Street Zen

Frontline (NYSE:FRO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

FRO has been the topic of a number of other research reports. Evercore ISI reduced their price objective on Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price objective on Frontline in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.62.

Frontline Trading Down 2.4%

Frontline stock traded down $0.43 during midday trading on Friday, reaching $16.96. The stock had a trading volume of 3,077,850 shares, compared to its average volume of 2,667,183. Frontline has a twelve month low of $12.40 and a twelve month high of $25.68. The stock has a market capitalization of $3.78 billion, a PE ratio of 10.87 and a beta of 0.28. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.82 and a current ratio of 1.82. The stock's 50-day simple moving average is $17.71 and its 200 day simple moving average is $16.45.

Frontline (NYSE:FRO - Get Free Report) last issued its quarterly earnings data on Friday, May 23rd. The shipping company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $427.87 million for the quarter, compared to analysts' expectations of $252.26 million. Frontline had a return on equity of 12.67% and a net margin of 17.67%. The firm's quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Analysts expect that Frontline will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in shares of Frontline in the fourth quarter worth about $31,000. SVB Wealth LLC acquired a new position in shares of Frontline in the first quarter worth about $32,000. Bayforest Capital Ltd acquired a new position in shares of Frontline in the first quarter worth about $34,000. Signaturefd LLC lifted its stake in shares of Frontline by 59.3% in the first quarter. Signaturefd LLC now owns 2,657 shares of the shipping company's stock worth $39,000 after acquiring an additional 989 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Frontline by 331.8% in the fourth quarter. National Bank of Canada FI now owns 6,166 shares of the shipping company's stock worth $87,000 after acquiring an additional 4,738 shares in the last quarter. Institutional investors and hedge funds own 22.70% of the company's stock.

About Frontline

Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.