Frontline (NYSE:FRO) Reaches New 52-Week High – Still a Buy?

Frontline PLC (NYSE:FRO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $34.90 and last traded at $34.7070, with a volume of 1252396 shares. The stock had previously closed at $34.72.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FRO shares. Jefferies Financial Group increased their target price on shares of Frontline from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a research report on Monday, December 29th. Clarkson Capital upgraded Frontline from a “neutral” rating to a “buy” rating in a research note on Monday, January 12th. Evercore upped their target price on Frontline from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, BTIG Research increased their target price on Frontline from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.87.

Frontline Stock Performance

The stock has a fifty day simple moving average of $25.95 and a two-hundred day simple moving average of $23.86. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 35.80 and a beta of 0.07.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Friday, November 21st. The shipping company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). Frontline had a return on equity of 8.89% and a net margin of 12.23%.The business had revenue of $257.04 million for the quarter, compared to the consensus estimate of $265.23 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts expect that Frontline PLC will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Frontline by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock worth $129,966,000 after purchasing an additional 63,432 shares during the period. Balyasny Asset Management L.P. raised its position in Frontline by 44.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock worth $51,212,000 after purchasing an additional 686,212 shares during the last quarter. Marshall Wace LLP lifted its holdings in Frontline by 155.1% during the 2nd quarter. Marshall Wace LLP now owns 1,692,537 shares of the shipping company’s stock worth $27,775,000 after buying an additional 1,029,034 shares during the period. UBS Group AG grew its position in shares of Frontline by 18.2% in the 4th quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock valued at $30,794,000 after buying an additional 217,760 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Frontline by 20.6% in the third quarter. SG Americas Securities LLC now owns 1,058,260 shares of the shipping company’s stock valued at $24,118,000 after buying an additional 180,731 shares during the period. 22.70% of the stock is owned by institutional investors.

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.