The stock of Frontline Ltd. (NYSE:FRO) is a huge mover today! About 477,476 shares traded hands. Frontline Ltd. (NYSE:FRO) has declined 20.65% since March 1, 2016 and is downtrending. It has underperformed by 29.89% the S&P500.
The move comes after 9 months positive chart setup for the $8.86 billion company. It was reported on Oct, 4 by Barchart.com. We have $9.99 PT which if reached, will make NYSE:FRO worth $3.37B more.
Frontline Ltd. (NYSE:FRO) Ratings Coverage
Out of 7 analysts covering Frontline Ltd. (NYSE:FRO), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Frontline Ltd. has been the topic of 8 analyst reports since November 25, 2015 according to StockzIntelligence Inc. As per Thursday, January 14, the company rating was upgraded by Nordea. DNB Markets upgraded Frontline Ltd. (NYSE:FRO) on Wednesday, January 13 to “Buy” rating. As per Tuesday, February 9, the company rating was upgraded by Clarkson Capital. The firm has “Neutral” rating by Credit Suisse given on Wednesday, November 25. The stock of Frontline Ltd. (NYSE:FRO) earned “Buy” rating by Clarkson Capital on Tuesday, February 16. Seaport Global Securities initiated the shares of FRO in a report on Thursday, December 17 with “Buy” rating. Seaport Global reinitiated the stock with “Neutral” rating in Wednesday, May 4 report. Deutsche Bank maintained Frontline Ltd. (NYSE:FRO) rating on Monday, January 4. Deutsche Bank has “Hold” rating and $3 price target.
According to Zacks Investment Research, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers.”
More notable recent Frontline Ltd. (NYSE:FRO) news were published by: Fool.com which released: “Better Buy: Textainer Group Holdings Limited vs. Frontline Ltd.” on July 22, 2016, also Fool.com with their article: “Why Frontline Ltd.’s Shares Popped 10% Today” published on May 31, 2016, Nasdaq.com published: “Earnings Reaction History: Frontline Ltd., 40.0% Follow-Through Indicator, 7.5 …” on August 31, 2016. More interesting news about Frontline Ltd. (NYSE:FRO) were released by: Seekingalpha.com and their article: “Is Frontline’s 20% Dividend Yield Sustainable?” published on June 27, 2016 as well as Seekingalpha.com‘s news article titled: “Low-Risk Speculative Opportunity In Frontline Shipping: 18-25% Upside” with publication date: July 21, 2016.
FRO Company Profile
Frontline Ltd., incorporated on June 12, 1992, is a shipping company. The Firm is engaged in the seaborne transportation of crude oil and oil products. The Firm operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Firm operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore. It is also involved in the charter, purchase and sale of vessels.
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