Playtech (LON:PTEC) Receives “Hold” Rating from Jefferies Financial Group

Playtech (LON:PTEC)‘s stock had its “hold” rating restated by stock analysts at Jefferies Financial Group in a note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 405 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 9.11% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd. Citigroup increased their price target on Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a research report on Monday, March 30th.

Playtech Price Performance

LON PTEC opened at GBX 371.20 on Wednesday. The stock has a market capitalization of £1.03 billion, a P/E ratio of 0.76, a P/E/G ratio of 1.28 and a beta of 0.65. Playtech has a 1 year low of GBX 210 and a 1 year high of GBX 447. The business’s fifty day moving average is GBX 367.84 and its two-hundred day moving average is GBX 315.52. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42.

Playtech declared that its Board of Directors has authorized a share repurchase plan on Friday, March 27th that allows the company to repurchase 5,660,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.