Jefferies lifts Frontline Ltd. [FRO] price estimate. Who else is bullish?


Frontline Ltd. [NYSE: FRO] gained 0.69% or 0.07 points to close at $10.19 with a heavy trading volume of 3720420 shares. The company report on May 28, 2022 that FRO – Private acquisitions of Euronav shares in exchange for Frontline shares completed.

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FRO – Private acquisitions of Euronav shares in exchange for Frontline shares completed .

Frontline Ltd. (“Frontline” or the “Company”) (NYSE: FRO – OSE: FRO) announces that it has agreed to acquire a total of 5,955,705 shares in Euronav N.V. (NYSE: EURN & Euronext: EURN) (“Euronav”) representing 2.95% of the outstanding shares in privately negotiated share exchange transactions with certain shareholders of Euronav N.V. where such shareholders of Euronav N.V. receive consideration shares in Frontline.

It opened the trading session at $10.38, the shares rose to $10.57 and dropped to $10.075, the range by which the price of stock traded the whole day. The daily chart for FRO points out that the company has recorded 58.97% gains over the past six months. However, it is still -67.05% lower than its most recent low trading price.

If we look at the average trading volume of 2.88M shares, FRO reached to a volume of 3720420 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Frontline Ltd. [FRO]:

Jefferies have made an estimate for Frontline Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 27, 2022. The new note on the price target was released on May 25, 2021, representing the official price target for Frontline Ltd. stock. Previously, the target price had yet another raise to $8, while H.C. Wainwright analysts kept a Neutral rating on FRO stock.

The Average True Range (ATR) for Frontline Ltd. is set at 0.60, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 2.39. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.63.

Trading performance analysis for FRO stock

Frontline Ltd. [FRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.95. With this latest performance, FRO shares gained by 20.59% in over the last four-week period, additionally plugging by 58.97% over the last 6 months – not to mention a rise of 20.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FRO stock in for the last two-week period is set at 58.29, with the RSI for the last a single of trading hit 58.48, and the three-weeks RSI is set at 57.49 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 8.92, while it was recorded at 10.45 for the last single week of trading, and 8.16 for the last 200 days.

Frontline Ltd. [FRO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Frontline Ltd. [FRO] shares currently have an operating margin of +18.77 and a Gross Margin at +21.47. Frontline Ltd.’s Net Margin is presently recorded at +30.70.

Return on Total Capital for FRO is now 4.33, given the latest momentum, and Return on Invested Capital for the company is 4.52. Return on Equity for this stock inclined to 7.41, with Return on Assets sitting at 3.69. When it comes to the capital structure of this company, Frontline Ltd. [FRO] has a Total Debt to Total Equity ratio set at 83.23. Additionally, FRO Total Debt to Total Capital is recorded at 45.42, with Total Debt to Total Assets ending up at 35.22. Long-Term Debt to Equity for the company is recorded at 77.60, with the Long-Term Debt to Total Capital now at 42.35.

Frontline Ltd.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.70.

An analysis of insider ownership at Frontline Ltd. [FRO]

There are presently around $361 million, or 21.10% of FRO stock, in the hands of institutional investors. The top three institutional holders of FRO stocks are: BLACKROCK INC. with ownership of 6,310,581, which is approximately -0.241% of the company’s market cap and around 33.80% of the total institutional ownership; VANGUARD GROUP INC, holding 4,457,223 shares of the stock with an approximate value of $45.11 million in FRO stocks shares; and MARSHALL WACE, LLP, currently with $22.75 million in FRO stock with ownership of nearly New of the company’s market capitalization.

Positions in Frontline Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 63 institutional holders increased their position in Frontline Ltd. [NYSE:FRO] by around 10,448,032 shares. Additionally, 62 investors decreased positions by around 14,910,676 shares, while 21 investors held positions by with 10,342,800 shares. The mentioned changes placed institutional holdings at 35,701,508 shares, according to the latest SEC report filing. FRO stock had 32 new institutional investments in for a total of 6,128,272 shares, while 18 institutional investors sold positions of 1,540,323 shares during the same period.