Frontline (NYSE:FRO) Downgraded by Kepler Capital Markets to Strong Sell

Frontline (NYSE:FRO) was downgraded by Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Separately, Jefferies Financial Group dropped their price objective on Frontline from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Frontline has an average rating of “Moderate Buy” and an average target price of $24.46.

Frontline Trading Up 0.2 %

Shares of NYSE FRO opened at $14.95 on Thursday. The company has a market cap of $3.33 billion, a PE ratio of 6.10 and a beta of -0.04. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s 50 day moving average price is $16.59 and its 200-day moving average price is $18.14. Frontline has a 52-week low of $13.17 and a 52-week high of $29.39.

Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $425.60 million for the quarter, compared to analysts’ expectations of $273.16 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts expect that Frontline will post 1.78 EPS for the current fiscal year.

Institutional Trading of Frontline

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Frontline during the 4th quarter valued at about $341,000. Private Advisor Group LLC boosted its holdings in shares of Frontline by 164.0% in the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company’s stock worth $398,000 after buying an additional 17,428 shares during the last quarter. Range Financial Group LLC bought a new stake in Frontline during the fourth quarter valued at approximately $579,000. Charles Schwab Investment Management Inc. increased its holdings in Frontline by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,494 shares of the shipping company’s stock valued at $994,000 after buying an additional 22,022 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in Frontline in the fourth quarter worth approximately $214,000. Institutional investors own 22.70% of the company’s stock.

Frontline Company Profile

Frontline plc, 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, 2022, 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 Limassol, Cyprus.