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

Playtech (LON:PTEC)‘s stock had its “hold” rating restated by analysts at Jefferies Financial Group in a research report issued on Thursday,London Stock Exchange reports. They currently have a GBX 405 target price on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 5.47% from the company’s current price.

PTEC has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd. Citigroup boosted their target price on Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research report on Monday, March 30th.

Playtech Stock Down 2.1%

Shares of PTEC traded down GBX 8.40 during trading hours on Thursday, hitting GBX 384. The company had a trading volume of 2,460,150 shares, compared to its average volume of 13,302,093. The firm has a fifty day moving average price of GBX 341.52 and a 200-day moving average price of GBX 307.64. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42. The stock has a market capitalization of £1.08 billion, a price-to-earnings ratio of 0.79, a P/E/G ratio of 1.28 and a beta of 0.64. Playtech has a 52-week low of GBX 210 and a 52-week high of GBX 447.

Playtech announced that its board has initiated a share buyback plan on Friday, March 27th that permits the company to buyback 5,660,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is 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.