Frontier Developments (LON:FDEV) Reaches New 1-Year High – Here’s Why

Frontier Developments plc (LON:FDEV) hit a new 52-week high on Tuesday. The stock traded as high as GBX 659 and last traded at GBX 643, with a volume of 264,153 shares. The stock had previously closed at GBX 633.

Analyst Ratings Changes

FDEV has been the topic of a number of analyst reports. Shore Capital Group upgraded shares of Frontier Developments to a “buy” rating and set a GBX 650 price objective on the stock in a research report on Wednesday, September 9th. Berenberg Bank restated a “buy” rating and set a GBX 600 price objective on shares of Frontier Developments in a research report on Wednesday, September 9th. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, Frontier Developments presently has an average rating of “Buy” and an average target price of GBX 618.75.

Frontier Developments Price Performance

The company has a debt-to-equity ratio of 16.51, a quick ratio of 2.61 and a current ratio of 3.50. The company has a 50-day simple moving average of GBX 513.60 and a 200-day simple moving average of GBX 440.81. The company 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.

Frontier Developments (LON:FDEV) last posted 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 27.12% and a net margin of 26.03%. As a group, research analysts predict that Frontier Developments plc will post 7.09 earnings per share for the current year.

Insiders Place Their Bets

In other Frontier Developments news, insider Alex Bevis sold 50,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of GBX 516, for a total value of £258,000. 39.02% of the stock is owned by corporate insiders.

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.