Frontline (NYSE:FRO) Hits New 1-Year High - Should You Buy?

Key Points

• Frontline reached a new 52-week high, trading as high as $45.29 and last at $44.82, compared with its prior close of $43.75.
• Analyst sentiment is mixed: BTIG raised its price target to $55 and maintained a Buy rating, while several firms downgraded the stock. The consensus rating is Hold, with an average target price of $41.62.
• Frontline has a $9.77 billion market capitalization, a 10.81 price-to-earnings ratio, and institutional investors own 22.70% of its shares. The company operates a global fleet of crude-oil and petroleum-product tankers.

Frontline PLC (NYSE:FRO - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $45.29 and last traded at $44.82, with a volume of 774939 shares changing hands. The stock had previously closed at $43.75.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DZ Bank downgraded Frontline from a "hold" rating to a "sell" rating in a research report on Friday, August 21st. Weiss Ratings cut shares of Frontline from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Frontline from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Danske lowered shares of Frontline from a "hold" rating to a "sell" rating in a report on Friday, August 21st. Finally, BTIG Research lifted their price target on shares of Frontline from $45.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Frontline has a consensus rating of "Hold" and an average target price of $41.62.

Frontline Stock Performance

The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The business has a 50 day simple moving average of $39.25 and a two-hundred day simple moving average of $36.72. The firm has a market cap of $9.77 billion, a PE ratio of 10.81 and a beta of 0.02.

Institutional Investors Weigh In On Frontline

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRO. Cozad Asset Management Inc. grew its stake in Frontline by 3.5% in the 1st quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company's stock worth $458,000 after acquiring an additional 445 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Frontline by 0.6% during the fourth quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company's stock valued at $1,605,000 after acquiring an additional 460 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Frontline by 58.9% in the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company's stock valued at $46,000 after purchasing an additional 486 shares during the period. NFSG Corp boosted its holdings in shares of Frontline by 50.0% in the first quarter. NFSG Corp now owns 1,500 shares of the shipping company's stock valued at $52,000 after purchasing an additional 500 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in Frontline by 3.5% in the third quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company's stock worth $369,000 after purchasing an additional 552 shares in the last quarter. Institutional investors own 22.70% of the company's stock.

About Frontline

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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