Seaport Global Securities Analysts Give Frontline (FRO) a $7.00 Price Target

Frontline (NYSE:FRO) has been given a $7.00 target price by investment analysts at Seaport Global Securities in a research report issued on Thursday. The firm currently has a “buy” rating on the shipping company’s stock. Seaport Global Securities’ target price indicates a potential upside of 36.72% from the company’s previous close.

Separately, Zacks Investment Research downgraded shares of Frontline from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.67.

Frontline (NYSE:FRO) opened at $5.12 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.22. Frontline has a 12 month low of $4.47 and a 12 month high of $7.55. The stock has a market cap of $818.45, a price-to-earnings ratio of 170.72 and a beta of 1.87.

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Frontline by 197.8% during the second quarter. Northern Trust Corp now owns 1,795,843 shares of the shipping company’s stock worth $10,290,000 after buying an additional 1,192,899 shares during the period. Teachers Advisors LLC boosted its stake in shares of Frontline by 18.2% during the second quarter. Teachers Advisors LLC now owns 135,816 shares of the shipping company’s stock worth $778,000 after buying an additional 20,935 shares during the period. State Street Corp boosted its stake in shares of Frontline by 18.1% during the second quarter. State Street Corp now owns 1,282,370 shares of the shipping company’s stock worth $7,351,000 after buying an additional 196,952 shares during the period. Jane Street Group LLC boosted its stake in shares of Frontline by 218.0% during the third quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock worth $2,435,000 after buying an additional 272,875 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Frontline by 12.0% during the second quarter. TIAA CREF Investment Management LLC now owns 202,366 shares of the shipping company’s stock worth $1,160,000 after buying an additional 21,700 shares during the period. Institutional investors and hedge funds own 13.23% of the company’s stock.

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