Market Analysts see Frontline Plc [FRO] gaining to $30. Time to buy?

Frontline Plc [NYSE: FRO] traded at a high on Thursday, posting a 3.53 gain after which it closed the day’ session at $23.44. The company report on March 6, 2024 at 9:00 AM that REMINDER – Leading LNG, LPG, Crude & Product Tanker Shipping Companies Participating at Capital Link’s 18th Annual International Shipping Forum Monday, March 11, 2024 in New York City.

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The results of the trading session contributed to over 2995529 shares changing hands. Over the past one week, the price volatility of Frontline Plc stands at 2.49% while the volatility over the past one month is 2.43%.

The market cap for FRO stock reached $5.22 billion, with 222.62 million shares outstanding and 143.15 million shares in the current float. Compared to the average trading volume of 2.38M shares, FRO reached a trading volume of 2995529 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 Plc [FRO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRO shares is $28.42 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 1.29. 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 Plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Mar-22-24. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $17 to $26. The new note on the price target was released on January 09, 2024, representing the official price target for Frontline Plc stock. Previously, the target price had yet another raise to $17, while Deutsche Bank analysts kept a Hold rating on FRO stock.

The Average True Range (ATR) for Frontline Plc is set at 0.73, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 2.90. The Price to Book ratio for the last quarter was 2.29, with the Price to Cash per share for the same quarter was set at 1.42.

How has FRO stock performed recently?

Frontline Plc [FRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.21. With this latest performance, FRO shares gained by 1.87% in over the last four-week period, additionally plugging by 35.10% over the last 6 months – not to mention a rise of 34.10% 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 54.05, with the RSI for the last a single of trading hit 54.04, and the three-weeks RSI is set at 54.19 for Frontline Plc [FRO]. The present Moving Average for the last 50 days of trading for this stock 22.66, while it was recorded at 23.33 for the last single week of trading, and 19.43 for the last 200 days.

Frontline Plc [FRO]: Deeper insight into the fundamentals

Frontline Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.79 and a Current Ratio set at 1.78.

Earnings analysis for Frontline Plc [FRO]

With the latest financial reports released by the company, Frontline Plc posted 0.87/share EPS, while the average EPS was predicted by analysts to be reported at 0.96/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FRO.

Insider trade positions for Frontline Plc [FRO]

The top three institutional holders of FRO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FRO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FRO stock with ownership which is approximately 5.8325%.

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