Frontier Developments (LON:FDEV) Shares Up 10% After Analyst Upgrade

Frontier Developments plc (LON:FDEV) was up 10% during mid-day trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 450 to GBX 550. Berenberg Bank currently has a buy rating on the stock. Frontier Developments traded as high as GBX 480.70 ($6.41) and last traded at GBX 480 ($6.40). Approximately 317,622 shares changed hands during mid-day trading, an increase of 233% from the average daily volume of 95,350 shares. The stock had previously closed at GBX 436.50 ($5.82).

FDEV has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Frontier Developments from GBX 310 to GBX 390 and gave the stock a “hold” rating in a report on Friday, September 12th. Shore Capital reaffirmed a “buy” rating on shares of Frontier Developments in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 470.

Insider Transactions at Frontier Developments

In related news, insider David John Braben sold 44,407 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of GBX 463, for a total transaction of £205,604.41. In the last three months, insiders have acquired 91,807 shares of company stock worth $38,126,744 and have sold 617,358 shares worth $247,207,086. 37.76% of the stock is owned by corporate insiders.

Frontier Developments Stock Performance

The business’s 50-day simple moving average is GBX 410.17 and its two-hundred day simple moving average is GBX 322.88. The firm has a market cap of £179.95 million, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.11 and a beta of 0.03. The company has a quick ratio of 2.61, a current ratio of 2.93 and a debt-to-equity ratio of 27.70.

Frontier Developments (LON:FDEV) last issued its quarterly earnings data on Wednesday, September 10th. The company reported GBX 42.40 earnings per share for the quarter. Frontier Developments had a negative net margin of 24.05% and a negative return on equity of 30.43%. As a group, sell-side analysts expect that Frontier Developments plc will post 7.0917759 earnings per share for the current fiscal year.

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.