Frontline Ltd. (FRO) Given Consensus Recommendation of “Hold” by Analysts
Frontline Ltd. (NYSE:FRO) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.00.
Several research analysts have commented on FRO shares. Zacks Investment Research upgraded shares of Frontline from a “sell” rating to a “hold” rating in a report on Monday, November 27th. Credit Suisse Group restated a “neutral” rating on shares of Frontline in a report on Tuesday, September 5th. Finally, BidaskClub upgraded shares of Frontline from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
Shares of Frontline (NYSE FRO) traded up $0.07 during midday trading on Thursday, reaching $4.63. 934,315 shares of the company’s stock traded hands, compared to its average volume of 768,845. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.22. Frontline has a 1-year low of $4.47 and a 1-year high of $7.55. The company has a market cap of $781.09, a price-to-earnings ratio of 28.75 and a beta of 1.87.
Several institutional investors have recently modified their holdings of the stock. Evermore Global Advisors LLC increased its stake in shares of Frontline by 30.3% in the 3rd quarter. Evermore Global Advisors LLC now owns 5,037,514 shares of the shipping company’s stock worth $30,427,000 after acquiring an additional 1,170,522 shares in the last quarter. Folketrygdfondet increased its stake in shares of Frontline by 49.1% in the 3rd quarter. Folketrygdfondet now owns 1,914,988 shares of the shipping company’s stock worth $11,567,000 after acquiring an additional 630,992 shares in the last quarter. Northern Trust Corp increased its stake in shares of Frontline by 197.8% in the 2nd quarter. Northern Trust Corp now owns 1,795,843 shares of the shipping company’s stock worth $10,290,000 after acquiring an additional 1,192,899 shares in the last quarter. State Street Corp increased its stake in shares of Frontline by 18.1% in the 2nd quarter. State Street Corp now owns 1,282,370 shares of the shipping company’s stock worth $7,351,000 after acquiring an additional 196,952 shares in the last quarter. Finally, Cipher Capital LP increased its stake in shares of Frontline by 24.9% in the 2nd quarter. Cipher Capital LP now owns 500,614 shares of the shipping company’s stock worth $2,868,000 after acquiring an additional 99,785 shares in the last quarter. Institutional investors own 13.23% of the company’s stock.
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