Wall Street Analyst Upgrade Frontline Ltd. [FRO]. What else is Wall St. saying

Frontline Ltd. [NYSE: FRO] traded at a low on 03/09/23, posting a -1.94 loss after which it closed the day’ session at $18.22. The company report on February 28, 2023 that FRO – Q4 2022 Presentation.

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Please find enclosed the presentation of Frontline plc´s fourth quarter 2022 results to be held on the webcast / conference call 28 February, 2023 at 15:00 CET.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

The results of the trading session contributed to over 3016921 shares changing hands. Over the past one week, the price volatility of Frontline Ltd. stands at 3.44% while the volatility over the past one month is 4.01%.

The market cap for FRO stock reached $3.91 billion, with 222.25 million shares outstanding and 142.78 million shares in the current float. Compared to the average trading volume of 4.53M shares, FRO reached a trading volume of 3016921 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $19.62 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 0.75, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 2.73. The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 2.29. Price to Free Cash Flow for FRO in the course of the last twelve months was 73.93.

How has FRO stock performed recently?

Frontline Ltd. [FRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.44. With this latest performance, FRO shares gained by 17.93% in over the last four-week period, additionally plugging by 51.20% over the last 6 months – not to mention a rise of 94.04% 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 61.45, with the RSI for the last a single of trading hit 57.35, and the three-weeks RSI is set at 62.39 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 15.12, while it was recorded at 18.43 for the last single week of trading, and 12.37 for the last 200 days.

Frontline Ltd. [FRO]: Deeper insight into the fundamentals

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 2.20.

Insider trade positions for Frontline Ltd. [FRO]

There are presently around $1,521 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 9,034,146, which is approximately -8.994% of the company’s market cap and around 33.80% of the total institutional ownership; BLACKROCK INC., holding 6,335,125 shares of the stock with an approximate value of $115.43 million in FRO stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $93.54 million in FRO stock with ownership of nearly 72.021% of the company’s market capitalization.

Positions in Frontline Ltd. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 90 institutional holders increased their position in Frontline Ltd. [NYSE:FRO] by around 20,734,478 shares. Additionally, 92 investors decreased positions by around 17,590,467 shares, while 16 investors held positions by with 45,131,559 shares. The mentioned changes placed institutional holdings at 83,456,504 shares, according to the latest SEC report filing. FRO stock had 39 new institutional investments in for a total of 7,419,908 shares, while 44 institutional investors sold positions of 4,384,888 shares during the same period.


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