Frontline (NYSE:FRO) Price Target Raised to $42.00 at BTIG Research

Frontline (NYSE:FRO) had its price objective increased by BTIG Research from $35.00 to $42.00 in a research note published on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the shipping company’s stock.

A number of other research analysts also recently issued reports on FRO. Clarkson Capital upgraded Frontline from a “neutral” rating to a “buy” rating in a research note on Monday, January 12th. Jefferies Financial Group raised their price objective on shares of Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.62.

Frontline Stock Down 2.4%

Shares of FRO stock traded down $0.91 on Friday, hitting $36.38. The stock had a trading volume of 3,531,577 shares, compared to its average volume of 3,341,449. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average of $27.06 and a 200 day moving average of $24.27. Frontline has a 12-month low of $12.40 and a 12-month high of $37.95. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 37.16 and a beta of 0.07.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Friday, February 27th. The shipping company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). Frontline had a return on equity of 8.89% and a net margin of 12.23%.During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 46.7% on a year-over-year basis. As a group, analysts expect that Frontline will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. purchased a new stake in shares of Frontline in the second quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Frontline in the 4th quarter valued at $25,000. Sunbelt Securities Inc. bought a new position in Frontline in the 3rd quarter valued at $41,000. Sound Income Strategies LLC purchased a new position in shares of Frontline during the 4th quarter valued at $53,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Frontline during the 3rd quarter valued at $80,000. Hedge funds and other institutional investors own 22.70% of the company’s stock.

About Frontline

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.