Frontier Developments (LON:FDEV) Upgraded by Shore Capital Group to "Buy" Rating

Key Points

• Shore Capital Group upgraded Frontier Developments to “Buy” and set a GBX 650 price target, implying 22.35% upside from the previous close.
• Berenberg also maintained a “Buy” rating with a GBX 600 target. The stock has four Buy ratings and a consensus price target of GBX 618.75.
• Frontier reported quarterly EPS of GBX 74.60, with a 19.43% net margin and 21.13% return on equity; shares opened at GBX 531.25, while insiders own 38.10% of the company.

Frontier Developments (LON:FDEV - Get Free Report) was upgraded by equities researchers at Shore Capital Group to a "buy" rating in a report released on Wednesday, Digital Look reports. The brokerage presently has a GBX 650 price target on the stock. Shore Capital Group's target price suggests a potential upside of 22.35% from the stock's previous close.

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Frontier Developments currently has an average rating of "Buy" and a consensus price target of GBX 618.75.

Frontier Developments Price Performance

Shares of LON FDEV opened at GBX 531.25 on Wednesday. Frontier Developments has a twelve month low of GBX 302 and a twelve month high of GBX 588.56. The stock's 50 day moving average price is GBX 431.21 and its 200-day moving average price is GBX 402.27. The company has a market capitalization of £184.52 million, a PE ratio of 10.67, a PEG ratio of 2.11 and a beta of 0.03. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 19.71.

Frontier Developments (LON:FDEV - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported GBX 74.60 EPS for the quarter. Frontier Developments had a return on equity of 21.13% and a net margin of 19.43%. On average, equities analysts anticipate that Frontier Developments will post 7.0917759 EPS for the current year.

Insiders Place Their Bets

In other Frontier Developments news, insider Alex Bevis sold 5,084 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total transaction of £20,539.36. Company insiders own 38.10% of the company's stock.

About Frontier Developments

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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