Evercore ISI cut shares of Frontline Ltd. (NYSE:FRO) from an in-line rating to an underperform rating in a report published on Friday morning, MarketBeat.com reports. Evercore ISI currently has $4.00 price target on the shipping company’s stock, down from their prior price target of $6.00.

FRO has been the subject of several other reports. ValuEngine cut shares of Frontline from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Frontline from a sell rating to a hold rating in a research report on Wednesday, July 19th. Zacks Investment Research cut shares of Frontline from a hold rating to a sell rating in a research report on Friday, May 5th. Credit Suisse Group decreased their price objective on shares of Frontline from $8.00 to $6.00 and set a neutral rating for the company in a research report on Wednesday, May 31st. Finally, Seaport Global Securities upgraded shares of Frontline from a neutral rating to a buy rating and set a $8.00 price objective for the company in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $6.25.

Frontline (NYSE:FRO) opened at 5.81 on Friday. The stock’s 50 day moving average is $5.73 and its 200-day moving average is $6.48. Frontline has a 12 month low of $5.35 and a 12 month high of $8.90. The company has a market capitalization of $986.59 million, a PE ratio of 15.17 and a beta of 1.97.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Tuesday, May 30th. The shipping company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Frontline had a net margin of 9.25% and a return on equity of 8.76%. The company had revenue of $121.94 million during the quarter, compared to analysts’ expectations of $103.70 million. On average, analysts expect that Frontline will post $0.05 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first published by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/07/25/frontline-ltd-fro-rating-lowered-to-underperform-at-evercore-isi.html.

A number of hedge funds and other institutional investors have recently modified their holdings of FRO. Mackenzie Financial Corp bought a new position in shares of Frontline during the first quarter valued at about $101,000. Legal & General Group Plc raised its position in shares of Frontline by 3.8% in the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after buying an additional 581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontline by 426.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,564 shares of the shipping company’s stock valued at $112,000 after buying an additional 13,420 shares in the last quarter. Aperio Group LLC bought a new position in shares of Frontline during the second quarter valued at about $124,000. Finally, KCG Holdings Inc. raised its position in shares of Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock valued at $169,000 after buying an additional 7,205 shares in the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Frontline Company Profile

Analyst Recommendations for Frontline (NYSE:FRO)

Receive News & Ratings for Frontline Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.