Frontline (NYSE:FRO) Reaches New 52-Week High – Should You Buy?

Frontline PLC (NYSE:FRO) reached a new 52-week high during trading on Monday . The stock traded as high as $34.90 and last traded at $34.7070, with a volume of 1252396 shares. The stock had previously closed at $34.72.

Analyst Ratings Changes

FRO has been the subject of several recent research reports. Clarkson Capital raised shares of Frontline from a “neutral” rating to a “buy” rating in a research report on Monday, January 12th. Jefferies Financial Group lifted their price objective on shares of Frontline from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Evercore lifted their price objective on Frontline from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Frontline in a research note on Monday, December 29th. Finally, BTIG Research boosted their target price on shares of Frontline from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Frontline currently has a consensus rating of “Moderate Buy” and an average price target of $25.87.

Frontline Price Performance

The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 37.20 and a beta of 0.07. The company’s 50-day simple moving average is $26.75 and its 200 day simple moving average is $24.18. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On Frontline

Large investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. bought a new stake in Frontline during the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Frontline during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new position in shares of Frontline in the third quarter worth $41,000. Sound Income Strategies LLC acquired a new position in shares of Frontline during the 4th quarter worth $53,000. Finally, CIBC Private Wealth Group LLC bought a new position in Frontline in the 3rd quarter valued at approximately $80,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

About Frontline

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.