Frontline (NYSE:FRO) Downgraded by DZ Bank to Sell

Frontline (NYSE:FRO) was downgraded by analysts at DZ Bank from a “hold” rating to a “sell” rating in a research report issued on Friday, Marketbeat reports.

A number of other research analysts also recently weighed in on the stock. Pareto Securities downgraded shares of Frontline from a “buy” rating to a “hold” rating and set a $39.46 price objective for the company. in a research report on Monday, May 25th. BTIG Research raised their target price on Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings lowered Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Danske cut Frontline from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wall Street Zen downgraded Frontline from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Frontline has a consensus rating of “Hold” and a consensus price target of $41.62.

Frontline Stock Performance

Shares of NYSE FRO opened at $43.53 on Friday. The company has a market capitalization of $9.69 billion, a PE ratio of 10.72 and a beta of 0.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.03 and a current ratio of 2.03. The company’s fifty day moving average price is $38.88 and its 200 day moving average price is $36.20. Frontline has a 1 year low of $19.45 and a 1 year high of $45.17.

Institutional Investors Weigh In On Frontline

Institutional investors have recently bought and sold shares of the company. Triumph Capital Management increased its stake in Frontline by 131.0% during the 2nd quarter. Triumph Capital Management now owns 8,931 shares of the shipping company’s stock worth $311,000 after buying an additional 5,064 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new position in shares of Frontline during the second quarter valued at approximately $1,135,000. Quantitative Investment Management LLC purchased a new position in shares of Frontline in the second quarter valued at approximately $270,000. GTS Securities LLC purchased a new position in shares of Frontline in the second quarter valued at approximately $222,000. Finally, Empowered Funds LLC acquired a new stake in shares of Frontline in the second quarter worth approximately $2,950,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

Frontline Company Profile

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.