Seaport Global Securities Analysts Give Frontline (FRO) a $7.00 Price Target

Seaport Global Securities set a $7.00 price target on Frontline (NYSE:FRO) in a research note released on Thursday. The firm currently has a buy rating on the shipping company’s stock.

Separately, Zacks Investment Research upgraded shares of Frontline from a sell rating to a hold rating in a research report on Monday, November 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $5.67.

Shares of Frontline (NYSE:FRO) traded down $0.17 during trading hours on Thursday, hitting $4.87. 591,304 shares of the stock traded hands, compared to its average volume of 1,044,880. Frontline has a 12 month low of $4.47 and a 12 month high of $7.34. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $6,740.00, a PE ratio of 32.47 and a beta of 1.88.

A number of hedge funds and other institutional investors have recently modified their holdings of FRO. Aperio Group LLC acquired a new position in Frontline during the second quarter valued at approximately $124,000. Rhumbline Advisers grew its holdings in Frontline by 13.6% during the second quarter. Rhumbline Advisers now owns 89,914 shares of the shipping company’s stock valued at $515,000 after purchasing an additional 10,774 shares during the period. Bank of New York Mellon Corp grew its holdings in Frontline by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 257,954 shares of the shipping company’s stock valued at $1,479,000 after purchasing an additional 18,354 shares during the period. Wells Fargo & Company MN grew its holdings in Frontline by 117.8% during the second quarter. Wells Fargo & Company MN now owns 143,363 shares of the shipping company’s stock valued at $822,000 after purchasing an additional 77,539 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Frontline by 48.8% during the second quarter. Alliancebernstein L.P. now owns 100,600 shares of the shipping company’s stock valued at $576,000 after purchasing an additional 33,000 shares during the period. Hedge funds and other institutional investors own 13.23% of the company’s stock.

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