Frontier Developments' (FDEV) Buy Rating Reaffirmed at Shore Capital Group

Key Points

• Shore Capital Group reaffirmed its “buy” rating on Frontier Developments and maintained a GBX 650 price target, implying approximately 18% upside from the prior close.
• Analyst sentiment remains positive: four analysts rate the stock a Buy, with a consensus target price of GBX 618.75; Berenberg also recently reiterated its Buy rating with a GBX 600 target.
• Frontier shares opened at GBX 550.94, while insider Alex Bevis sold 50,000 shares for £258,000; insiders continue to own approximately 39% of the company.

Frontier Developments (LON:FDEV - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Shore Capital Group in a research note issued on Thursday, Digital Look reports. They currently have a GBX 650 target price on the stock. Shore Capital Group's target price would suggest a potential upside of 17.98% from the stock's previous close.

Separately, Berenberg Bank restated a "buy" rating and set a GBX 600 price target on shares of Frontier Developments in a report on Wednesday, September 9th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of GBX 618.75.

Frontier Developments Price Performance

Shares of LON:FDEV opened at GBX 550.94 on Thursday. The company has a debt-to-equity ratio of 16.51, a current ratio of 3.50 and a quick ratio of 2.61. The stock has a market cap of £186.54 million, a price-to-earnings ratio of 7.87, a PEG ratio of 2.11 and a beta of 0.03. The stock's 50 day moving average price is GBX 513.60 and its 200 day moving average price is GBX 440.81. Frontier Developments has a 12 month low of GBX 302 and a 12 month high of GBX 659.

Frontier Developments (LON:FDEV - Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported GBX 74.60 earnings per share for the quarter. Frontier Developments had a return on equity of 27.12% and a net margin of 26.03%. Equities research analysts anticipate that Frontier Developments will post 7.09 earnings per share for the current fiscal year.

Insider Activity at Frontier Developments

In other Frontier Developments news, insider Alex Bevis sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of GBX 516, for a total value of £258,000. Insiders own 39.02% of the company's stock.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality. At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world's biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players. We have created games that have defined genres, been critically acclaimed, and reached many millions of players.

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