Paddy Power Betfair’s (PPB) Reduce Rating Reiterated at Peel Hunt
PPB has been the subject of several other research reports. Shore Capital downgraded shares of Paddy Power Betfair to a sell rating in a report on Friday, June 22nd. Berenberg Bank raised shares of Paddy Power Betfair to a hold rating and dropped their price objective for the company from GBX 7,000 ($91.47) to GBX 6,500 ($84.93) in a report on Friday, October 12th. Barclays dropped their price objective on shares of Paddy Power Betfair from GBX 7,730 ($101.01) to GBX 7,500 ($98.00) and set an overweight rating for the company in a report on Tuesday. Numis Securities increased their price objective on shares of Paddy Power Betfair from GBX 8,320 ($108.72) to GBX 8,530 ($111.46) and gave the company a hold rating in a report on Wednesday, August 8th. Finally, Citigroup downgraded shares of Paddy Power Betfair to a sell rating in a report on Monday, August 13th. Eight investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of GBX 7,255.38 ($94.80).
PPB opened at GBX 6,755 ($88.27) on Tuesday. Paddy Power Betfair has a 52 week low of GBX 6,572.50 ($85.88) and a 52 week high of GBX 8,967 ($117.17).
In other Paddy Power Betfair news, insider Peter Jackson bought 930 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average cost of GBX 7,168 ($93.66) per share, for a total transaction of £66,662.40 ($87,106.23).
Paddy Power Betfair Company Profile
Paddy Power Betfair plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the Unites States, and internationally. The company operates through Online, Australia, Retail, and US segments. It offers exchange sports betting and pari-mutuel betting products; fixed odds games betting; online games and casino; peer to peer games, including online bingo and poker; and business-to-business services.
Further Reading: Cash Flow Analysis in Stock Selection
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