HC Wainwright Raises Frontline (NYSE:FRO) Price Target to $10.00

Frontline (NYSE:FROGet Rating) had its price objective boosted by HC Wainwright from $8.00 to $10.00 in a report issued on Wednesday, The Fly reports. HC Wainwright currently has a neutral rating on the shipping company’s stock.

A number of other equities research analysts also recently issued reports on FRO. Jefferies Financial Group started coverage on shares of Frontline in a research note on Wednesday, April 27th. They set a hold rating on the stock. StockNews.com started coverage on shares of Frontline in a research note on Thursday, March 31st. They issued a sell rating on the stock. Finally, Zacks Investment Research downgraded shares of Frontline from a buy rating to a hold rating in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $9.93.

NYSE:FRO opened at $11.43 on Wednesday. Frontline has a 52 week low of $6.10 and a 52 week high of $11.57. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -228.60 and a beta of 0.10. The firm’s 50-day simple moving average is $8.85 and its 200 day simple moving average is $8.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.86 and a current ratio of 1.14.

Frontline (NYSE:FROGet Rating) last announced its quarterly earnings data on Tuesday, May 24th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Frontline had a negative net margin of 1.49% and a negative return on equity of 3.40%. During the same quarter in the prior year, the business earned $0.04 EPS. Sell-side analysts anticipate that Frontline will post 0.72 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Frontline by 81.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 801,602 shares of the shipping company’s stock worth $7,511,000 after buying an additional 359,494 shares during the period. Corient Capital Partners LLC boosted its position in Frontline by 10.8% during the 3rd quarter. Corient Capital Partners LLC now owns 85,291 shares of the shipping company’s stock worth $799,000 after buying an additional 8,299 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in Frontline by 21.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 165,250 shares of the shipping company’s stock worth $1,168,000 after buying an additional 28,960 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in Frontline during the 4th quarter worth approximately $94,000. Finally, GSA Capital Partners LLP acquired a new stake in Frontline during the 3rd quarter worth approximately $1,445,000. Institutional investors and hedge funds own 20.33% of the company’s stock.

Frontline Company Profile (Get Rating)

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, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.

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