Frontline (FRO) Downgraded to Hold at DNB Markets

DNB Markets downgraded shares of Frontline (NYSE:FRO) from a buy rating to a hold rating in a report published on Friday, Marketbeat reports. The firm currently has $7.30 price target on the shipping company’s stock.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Frontline from a hold rating to a strong-buy rating and set a $6.75 price target on the stock in a research note on Wednesday, November 21st. Morgan Stanley upped their price target on Frontline from $5.00 to $6.00 and gave the stock a hold rating in a research note on Monday, November 19th. Danske upgraded Frontline from a sell rating to a buy rating in a research note on Thursday, November 15th. ValuEngine upgraded Frontline from a sell rating to a hold rating in a research note on Tuesday, October 2nd. Finally, Jefferies Financial Group started coverage on Frontline in a research note on Monday, October 1st. They issued a hold rating and a $6.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $6.29.

NYSE:FRO opened at $7.26 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.32 and a quick ratio of 1.32. Frontline has a 52 week low of $3.79 and a 52 week high of $8.33.

Frontline (NYSE:FRO) last released its quarterly earnings results on Friday, November 16th. The shipping company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. Frontline had a negative return on equity of 3.87% and a negative net margin of 40.17%. The company had revenue of $89.21 million for the quarter, compared to analysts’ expectations of $79.90 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Equities analysts forecast that Frontline will post -0.29 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in shares of Frontline in the third quarter valued at $106,000. Macquarie Group Ltd. acquired a new stake in shares of Frontline in the third quarter valued at $114,000. Trexquant Investment LP acquired a new stake in shares of Frontline in the third quarter valued at $129,000. Segantii Capital Management Ltd acquired a new stake in shares of Frontline in the second quarter valued at $143,000. Finally, Panagora Asset Management Inc. raised its stake in shares of Frontline by 38,407.0% in the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock valued at $224,000 after acquiring an additional 38,407 shares in the last quarter. Institutional investors and hedge funds own 16.25% of the company’s stock.

About Frontline

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

Further Reading: Momentum Indicator: Relative Strength Index

Analyst Recommendations for Frontline (NYSE:FRO)

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