According to TheStreetRatingsTable, the rating for Frontline (NYSE: FRO) was raised from a “c” rating up to a “b-” rating by the equity research analysts working for TheStreet in a report that was published on Wednesday.
Other brokerages, including several more, have also made remarks on FRO. Jefferies Financial Group announced Tuesday that it had increased its price target for Frontline’s stock to $17.00, up from the previous price target of $16.00. StockNews.com downgraded the stock of Frontline from a “hold” recommendation to a “sell” in a research note published on Thursday, November 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Frontline shares from $12.00 to $15.00 in a research report released on Thursday, October 27th. Three analysts have provided their opinions regarding the stock, with one recommending that it be bought, two recommending that it be kept, and one recommending that it be sold. According to Bloomberg, the company is now rated as having an average “Hold” recommendation, and the consensus price objective is $14.00.
A share of FRO stock was $13.69 when trading began on Wednesday. In the past year, the share price of Frontline has ranged from a low of $6.10 to a high of $14.74. The company’s simple moving average over the past fifty days is $12.62, and the simple moving average over the past two hundred days is $11.13. The firm’s market capitalization is $3.05 billion, the price-to-earnings ratio is 11.70, and the beta value is 0.23. One thousand represents the debt-to-equity ratio, one thousand represents the current ratio, and one thousand represents the quick ratio.
Institutional investors have bought and sold the company’s stock in recent months. Amundi grew its position in Frontline by 46.2% during the second quarter of the fiscal year. Amundi currently owns 4,389 shares of the shipping company’s stock, which are worth $37,000, thanks to the fact that they made an extra purchase of 1,386 shares during the period. The percentage of Frontline stock that Quantbot Technologies LP owns grew by 3,051.6% during the second quarter. Quantbot Technologies LP now has 9,644 shares of the shipping company’s stock, worth $85,000 after the company made additional purchases totaling 9,338 shares during the period in question. During the second quarter, First Republic Investment Management Inc. acquired a new position in Frontline for $89,000. The Bank of Nova Scotia made a $90,000 investment in Frontline during the second quarter of the fiscal year. Finally, during the first quarter of this year, Qube Research & Technologies Ltd. shelled out $93,000 to fill a new post in Frontline. Currently, institutional investors and hedge funds own 26.59% of the company’s stock.
The shipping corporation known as Frontline Ltd. is active all over the world in the business of transporting crude oil and oil products via sea. It is the owner of oil and product tankers and the operator of those vessels. As of December 31st, 2021, the company’s fleet consisted of seventy different vessels. In addition, it deals with the acquisition, sale, and chartering of vessels. 1985 marked the beginning of operations for the corporation, which currently has its headquarters in Hamilton, Bermuda.