Frontline (NYSE:FRO) Hits New 1-Year High – Should You Buy?

Shares of Frontline PLC (NYSE:FRO) hit a new 52-week high on Friday . The stock traded as high as $45.29 and last traded at $44.82, with a volume of 774939 shares traded. The stock had previously closed at $43.75.

Analysts Set New Price Targets

FRO has been the subject of several recent research reports. DZ Bank downgraded Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Danske lowered shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. BTIG Research upped their price target on shares of Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. 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 note on Monday, May 25th. Finally, Wall Street Zen cut Frontline from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Frontline has a consensus rating of “Hold” and an average price target of $41.62.

Frontline Price Performance

The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 10.81 and a beta of 0.02. The stock has a 50-day moving average price of $39.25 and a two-hundred day moving average price of $36.72.

Institutional Trading of Frontline

Several large investors have recently bought and sold shares of FRO. Cozad Asset Management Inc. increased its stake in Frontline by 3.5% during the 1st quarter. Cozad Asset Management Inc. now owns 13,152 shares of the shipping company’s stock valued at $458,000 after purchasing an additional 445 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Frontline by 0.6% in the fourth quarter. Bank of Montreal Can now owns 73,544 shares of the shipping company’s stock worth $1,605,000 after buying an additional 460 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Frontline by 58.9% during the first quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company’s stock worth $46,000 after buying an additional 486 shares during the period. NFSG Corp lifted its stake in shares of Frontline by 50.0% during the first quarter. NFSG Corp now owns 1,500 shares of the shipping company’s stock worth $52,000 after buying an additional 500 shares during the period. Finally, Integrated Wealth Concepts LLC raised its stake in Frontline by 3.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,204 shares of the shipping company’s stock worth $369,000 after acquiring an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 22.70% of the company’s stock.

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.