Frontline (NYSE:FRO) PT Set at $7.00 by Seaport Global Securities

Frontline (NYSE:FRO) has been assigned a $7.00 price objective by Seaport Global Securities in a research report issued on Thursday, January 4th. The firm currently has a “buy” rating on the shipping company’s stock. Seaport Global Securities’ price objective suggests a potential upside of 38.34% from the stock’s previous close.

Separately, Zacks Investment Research raised Frontline from a “sell” rating to a “hold” rating in a report on Monday, November 27th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.67.

Shares of Frontline (NYSE FRO) opened at $5.06 on Thursday. The firm has a market capitalization of $6,880.00, a price-to-earnings ratio of 33.73 and a beta of 1.88. Frontline has a 52 week low of $4.47 and a 52 week high of $7.34. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.22.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Frontline in the 3rd quarter valued at approximately $244,000. Jane Street Group LLC lifted its position in shares of Frontline by 218.0% during the 3rd quarter. Jane Street Group LLC now owns 398,059 shares of the shipping company’s stock valued at $2,435,000 after acquiring an additional 272,875 shares during the period. Engineers Gate Manager LP lifted its position in shares of Frontline by 243.2% during the 3rd quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock valued at $221,000 after acquiring an additional 25,981 shares during the period. Legal & General Group Plc lifted its position in shares of Frontline by 110.6% during the 3rd quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 17,759 shares during the period. Finally, Folketrygdfondet lifted its position in shares of Frontline by 49.1% during the 3rd quarter. Folketrygdfondet now owns 1,914,988 shares of the shipping company’s stock valued at $11,567,000 after acquiring an additional 630,992 shares during the period. 13.23% of the stock is currently owned by institutional investors.

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