Frontline Ltd. (NYSE:FRO) has been given an average rating of “Hold” by the nine brokerages that are covering the firm. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.33.
FRO has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Frontline from a “hold” rating to a “strong sell” rating in a research report on Monday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 price target (down from $10.00) on shares of Frontline in a research report on Friday, August 26th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Frontline in a research report on Tuesday, September 27th.
Several large investors have recently bought and sold shares of FRO. A.R.T. Advisors LLC bought a new stake in Frontline during the first quarter worth $872,000. Bank of New York Mellon Corp increased its stake in Frontline by 76.1% in the second quarter. Bank of New York Mellon Corp now owns 168,782 shares of the company’s stock worth $1,328,000 after buying an additional 72,959 shares during the last quarter. Ranger International Management LP bought a new stake in Frontline during the second quarter worth $2,505,000. Emerald Acquisition Ltd. bought a new stake in Frontline during the second quarter worth $178,000. Finally, California State Teachers Retirement System increased its stake in Frontline by 34.8% in the second quarter. California State Teachers Retirement System now owns 136,246 shares of the company’s stock worth $1,072,000 after buying an additional 35,167 shares during the last quarter. Institutional investors own 9.18% of the company’s stock.
Frontline (NYSE:FRO) traded down 0.79% during midday trading on Friday, hitting $7.57. 271,614 shares of the company were exchanged. The stock has a market capitalization of $1.18 billion, a PE ratio of 4.96 and a beta of 2.55. Frontline has a one year low of $6.80 and a one year high of $16.40. The firm’s 50-day moving average price is $7.49 and its 200-day moving average price is $7.82.