Market Analysts see Frontline Ltd. [FRO] gaining to $16. Time to buy?

Frontline Ltd. [NYSE: FRO] loss -4.49% on the last trading session, reaching $11.92 price per share at the time. The company report on December 20, 2022 that FRO – Special General Meeting Approves the Redomiciliation of Frontline to Cyprus.

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Frontline Ltd. (“Frontline” or the “Company”) (NYSE: FRO – OSE: FRO) announces that a Special General Meeting of Shareholders was held on December 20, 2022, at 8:00 a.m. local time, at Par-la-Ville Place, 4(th) Floor, 14 Par-la-Ville Road, Hamilton, Bermuda.

The proposals set out below were all approved by Frontline’s shareholders at the Special General Meeting:.

Frontline Ltd. represents 222.81 million in outstanding shares, while the company has a total market value of $2.65 billion with the latest information. FRO stock price has been found in the range of $11.90 to $12.37.

If compared to the average trading volume of 4.11M shares, FRO reached a trading volume of 3168501 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRO shares is $17.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FRO stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Frontline Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 06, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on July 21, 2022, representing the official price target for Frontline Ltd. stock. Previously, the target price had yet another raise to $9, while Jefferies analysts kept a Hold rating on FRO stock.

The Average True Range (ATR) for Frontline Ltd. is set at 0.63, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 2.38. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 1.53.

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 -9.01. With this latest performance, FRO shares dropped by -8.10% in over the last four-week period, additionally plugging by 30.56% over the last 6 months – not to mention a rise of 66.02% 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 38.33, with the RSI for the last a single of trading hit 32.56, and the three-weeks RSI is set at 42.03 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 13.27, while it was recorded at 12.42 for the last single week of trading, and 10.79 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 1.60.

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

There are presently around $958 million, or 21.10% of FRO stock, in the hands of institutional investors. The top three institutional holders of FRO stocks are: FOLKETRYGDFONDET with ownership of 9,927,003, which is approximately -7.573% of the company’s market cap and around 33.80% of the total institutional ownership; BLACKROCK INC., holding 6,137,008 shares of the stock with an approximate value of $73.15 million in FRO stocks shares; and VANGUARD GROUP INC, currently with $56.24 million in FRO stock with ownership of nearly 4.76% of the company’s market capitalization.

Positions in Frontline Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 97 institutional holders increased their position in Frontline Ltd. [NYSE:FRO] by around 30,258,544 shares. Additionally, 59 investors decreased positions by around 3,891,171 shares, while 26 investors held positions by with 46,239,416 shares. The mentioned changes placed institutional holdings at 80,389,131 shares, according to the latest SEC report filing. FRO stock had 37 new institutional investments in for a total of 7,068,506 shares, while 23 institutional investors sold positions of 1,003,817 shares during the same period.


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