Trade Report: The Frontline Ltd. (FRO) Receives $10.33 Consensus Target Price from Brokerages

The Frontline Ltd. (FRO) Receives $10.33 Consensus Target Price from Brokerages

Shares of Frontline Ltd. (NYSE:FRO) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $10.33.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Frontline from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Wells Fargo & Co. reiterated a “hold” rating on shares of Frontline in a report on Tuesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 target price (down previously from $10.00) on shares of Frontline in a report on Friday, August 26th.

Frontline (NYSE:FRO) opened at 7.57 on Friday. Frontline has a 52-week low of $6.80 and a 52-week high of $16.40. The firm has a market capitalization of $1.18 billion, a PE ratio of 4.96 and a beta of 2.55. The stock’s 50 day moving average is $7.49 and its 200-day moving average is $7.82.

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Frontline by 0.7% in the third quarter. California State Teachers Retirement System now owns 137,246 shares of the company’s stock worth $984,000 after buying an additional 1,000 shares in the last quarter. Rhumbline Advisers increased its position in Frontline by 1.5% in the third quarter. Rhumbline Advisers now owns 72,770 shares of the company’s stock worth $522,000 after buying an additional 1,110 shares in the last quarter. Northern Trust Corp increased its position in Frontline by 0.3% in the third quarter. Northern Trust Corp now owns 537,577 shares of the company’s stock worth $3,854,000 after buying an additional 1,716 shares in the last quarter. BlackRock Advisors LLC increased its position in Frontline by 15.6% in the third quarter. BlackRock Advisors LLC now owns 24,854 shares of the company’s stock worth $178,000 after buying an additional 3,363 shares in the last quarter. Finally, BlackRock Inc. increased its position in Frontline by 25.1% in the third quarter. BlackRock Inc. now owns 18,789 shares of the company’s stock worth $135,000 after buying an additional 3,774 shares in the last quarter. Hedge funds and other institutional investors own 7.62% of the company’s stock.

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