Jefferies Financial Group Has Lowered Expectations for Frontline (NYSE:FRO) Stock Price

Frontline (NYSE:FRO) had its price objective decreased by equities research analysts at Jefferies Financial Group from $26.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target points to a potential upside of 45.14% from the stock’s current price.

FRO has been the topic of a number of other research reports. Fearnley Fonds upgraded shares of Frontline to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com upgraded Frontline to a “sell” rating in a research note on Thursday, September 5th. BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, October 7th. Finally, Kepler Capital Markets cut Frontline from a “buy” rating to a “hold” rating and set a $15.83 target price on the stock. in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.36.

Frontline Trading Down 0.4 %

NYSE FRO opened at $13.78 on Tuesday. The firm has a market capitalization of $3.07 billion and a PE ratio of 5.62. The stock’s 50 day moving average is $18.66 and its 200 day moving average is $22.23. Frontline has a twelve month low of $13.41 and a twelve month high of $29.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44.

Frontline (NYSE:FRO) last announced its earnings results on Wednesday, November 27th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). Frontline had a net margin of 25.64% and a return on equity of 19.25%. During the same quarter in the prior year, the firm posted $0.36 EPS. Research analysts forecast that Frontline will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of Frontline

Institutional investors have recently added to or reduced their stakes in the business. Godsey & Gibb Inc. purchased a new position in shares of Frontline in the third quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new stake in Frontline in the 2nd quarter worth about $31,000. Summit Securities Group LLC raised its position in Frontline by 75.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,400 shares of the shipping company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. Blue Trust Inc. lifted its stake in Frontline by 17,866.7% during the 2nd quarter. Blue Trust Inc. now owns 2,156 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 2,144 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Frontline by 4,965.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,711 shares of the shipping company’s stock valued at $116,000 after acquiring an additional 4,618 shares during the period. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

About Frontline

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.