Jefferies cuts price target on Frontline Ltd. [FRO] – find out why.


Frontline Limited [NYSE: FRO] Shares fell about -0.25 points on Tuesday, ending the session at $14.18, down -1.73%. The Company reported on October 4, 2022 that FRO – Change in Board Composition.


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Frontline Limited (“Frontline” or the “Company”) announces the appointment of Mr. Marios Demetriades as a Director of the Company.

Marios Demetriades is a seasoned financial services professional with significant experience as a Non-Executive Director in various listed and private companies in the Banking, Infrastructure and Shipping industries. He previously served as Minister of Transport, Communications and Works for the Republic of Cyprus from 2014 to 2018 and held various positions in the accounting, investment and banking sectors. He is a qualified Chartered Accountant and Chartered Financial Analyst holder and a member of the Institute of CFA, the Institute of Chartered Accountants in England and Wales and the Institute of Certified Public Accountants of Cyprus (ICPAC). Mr. Demetriades is a Cypriot citizen and resides in Cyprus.

Compared to the average trading volume of 3.63M shares, FRO reached a trading volume of 3682958 shares in the most recent trading day, which is why market watchdogs consider the stock active.

What do top market gurus say about Frontline Limited? [FRO],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on a target price for FRO shares is $17.00 per share. Target prices and analysis on the performance of stocks are 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 a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Jefferies has an outlook for the shares of Frontline Ltd., keeping its view on the stock as Buy, in line with its previous recommendation on Sep 06, 2022. While these analysts maintained a previous recommendation, Jefferies raised their target price to Hold. The new note on the price target is issued on July 21, 2022, which represents the official price target for Frontline Limited stock. Previously, the target price was raised once again to $9, while analysts at Jefferies maintained a Hold rating on the FRO stock.

The Average True Range (ATR) for Frontline Ltd. is set at 0.56, with the Price to Sales ratio for FRO stock at 3.57 over the trailing 12 months period. The Price to Book ratio for the previous quarter was 1.54, the Price to Cash per share for the same quarter was set at 1.26.

How has FRO stock performed recently?

Frontline Limited [FRO] Moved into the green zone at the end of last week, in a positive trend and rising by 0.07. With this latest performance, FRO shares are up 11.48% over the past four-week period, in addition to down 47.86% over the past 6 months — not to mention a 99.44% gain in the past year of trading.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for the FRO stock for the past two-week period is set at 62.46, with the RSI for the last one trading hit at 62.59, and the three-week RSI for Frontline Ltd. is set at 61.26. [FRO], The current moving average of this stock for last 50 days of trading is 12.57, while it was recorded at 14.26 for last one week and 10.22 for last 200 days.

Frontline Limited [FRO]: Deep Insight into the Fundamentals

Equally intriguing is the liquidity data of Frontline Ltd., with its current ratio set at 1.10.

Insider Trade Positions for Frontline Ltd. [FRO]

Institutional investors currently hold approximately $1,140 million, or 21.10% of FRO stock, in hands. The top three institutional holders of FRO stock are: FOLKETRYGDFONDET with an ownership of 9,927,003, which is approximately -7.573% of the company’s market cap and approximately 33.80% of total institutional ownership; Blackrock Inc. holds 6,137,008 shares of stock with an approximate value of $87.02 million in FRO stock shares; and Vanguard Group INC, currently holding approximately 4.76% of the company’s market capitalization with $66.9 million in FRO stock.

At the end of November and during the November reporting period, positions in Frontline Ltd. shares held by institutional investors increased, where 96 institutional holders increased their positions in Frontline Ltd. [NYSE:FRO] By approximately 30,246,558 shares. Additionally, 59 investors reduced positions by approximately 3,895,257 shares, while 26 investors maintained positions amounting to 46,240,645 shares. The aforementioned changes put institutional holdings at 80,382,460 shares, according to the latest SEC report filing. There were 36 new institutional investments in FRO stock for a total of 7,056,520 shares, while 23 institutional investors sold 1,003,817 shares during the same period.

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