Shares of Frontier Developments plc (LON:FDEV – Get Free Report) shot up 16.7% on Wednesday after Shore Capital Group upgraded the stock to a buy rating. Shore Capital Group now has a GBX 650 price target on the stock. Frontier Developments traded as high as GBX 534 and last traded at GBX 520.31. Approximately 1,881,745 shares changed hands during trading, an increase of 985% from the average daily volume of 173,407 shares. The stock had previously closed at GBX 446.
Separately, Berenberg Bank restated a “buy” rating and set a GBX 600 target price on shares of Frontier Developments in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Frontier Developments currently has an average rating of “Buy” and an average target price of GBX 618.75.
Read Our Latest Report on FDEV
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Frontier Developments Trading Up 16.7%
The firm has a market cap of £180.72 million, a price-to-earnings ratio of 10.45, a P/E/G ratio of 2.11 and a beta of 0.03. The business has a 50-day moving average of GBX 431.21 and a 200-day moving average of GBX 402.27. The company has a debt-to-equity ratio of 19.71, a current ratio of 2.83 and a quick ratio of 2.61.
Frontier Developments (LON:FDEV – Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported GBX 74.60 earnings per share (EPS) for the quarter. Frontier Developments had a net margin of 19.43% and a return on equity of 21.13%. Research analysts anticipate that Frontier Developments plc will post 7.0917759 EPS for the current 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.
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