Frontline (NYSE:FRO) Stock Price Up 6.5%

Frontline Ltd (NYSE:FRO)’s share price rose 6.5% during trading on Monday . The company traded as high as $9.06 and last traded at $9.05, approximately 931,166 shares changed hands during trading. An increase of 46% from the average daily volume of 639,210 shares. The stock had previously closed at $8.50.

Several research firms have weighed in on FRO. Zacks Investment Research cut Frontline from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Nordea Equity Research upgraded Frontline from a “sell” rating to a “buy” rating in a research report on Wednesday, August 28th. ValuEngine downgraded Frontline from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Morgan Stanley set a $8.00 target price on shares of Frontline and gave the company a “hold” rating in a report on Friday, May 17th. Finally, Jefferies Financial Group set a $8.00 price target on shares of Frontline and gave the stock a “hold” rating in a research report on Friday, July 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Frontline presently has an average rating of “Hold” and a consensus price target of $7.63.

The stock has a market cap of $1.50 billion, a P/E ratio of -62.36, a P/E/G ratio of 4.21 and a beta of 1.04. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s fifty day moving average is $7.78 and its 200 day moving average is $7.65.

Frontline (NYSE:FRO) last issued its quarterly earnings data on Tuesday, August 27th. The shipping company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $102.74 million for the quarter, compared to analysts’ expectations of $102.98 million. Frontline had a return on equity of 5.73% and a net margin of 8.21%. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts predict that Frontline Ltd will post 0.43 EPS for the current year.

Several institutional investors have recently made changes to their positions in FRO. Bank of Montreal Can increased its position in shares of Frontline by 24.7% during the 2nd quarter. Bank of Montreal Can now owns 10,048 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 1,993 shares during the last quarter. AQR Capital Management LLC boosted its stake in Frontline by 8.1% during the second quarter. AQR Capital Management LLC now owns 33,246 shares of the shipping company’s stock worth $266,000 after buying an additional 2,500 shares during the period. Swiss National Bank boosted its stake in Frontline by 2.1% during the second quarter. Swiss National Bank now owns 142,182 shares of the shipping company’s stock worth $1,153,000 after buying an additional 2,920 shares during the period. A.R.T. Advisors LLC increased its position in Frontline by 8.6% during the second quarter. A.R.T. Advisors LLC now owns 58,119 shares of the shipping company’s stock valued at $465,000 after acquiring an additional 4,611 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Frontline during the second quarter valued at $76,000. Hedge funds and other institutional investors own 20.68% of the company’s stock.

Frontline Company Profile (NYSE:FRO)

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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