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

Key Points

• Jefferies reissued a Hold rating on Playtech with a GBX 405 price target, implying about a 5.47% upside from current levels.
• Playtech's board approved a share buyback authorizing repurchase of up to 5,660,000 shares, a move that typically signals management views the stock as undervalued.
• Shares traded down to GBX 384 on Thursday (market cap ~£1.08 billion, trailing P/E 0.79), while analysts remain mixed—Deutsche Bank cut its target to GBX 390 (buy) and Citigroup raised theirs to GBX 400 (buy).

Playtech (LON:PTEC - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Jefferies Financial Group in a note issued to investors on Thursday,London Stock Exchange reports. They presently have a GBX 405 price target on the stock. Jefferies Financial Group's price target indicates a potential upside of 5.47% from the stock's current price.

Several other research firms also recently commented on PTEC. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Playtech from GBX 433 to GBX 390 and set a "buy" rating on the stock in a research note on Friday, January 23rd. Citigroup raised their target price on shares of Playtech from GBX 355 to GBX 400 and gave the stock a "buy" rating in a report on Monday, March 30th.

Playtech Price Performance

Shares of PTEC stock traded down GBX 8.40 during trading hours on Thursday, hitting GBX 384. 2,460,150 shares of the company's stock were exchanged, compared to its average volume of 13,302,093. The company has a market capitalization of £1.08 billion, a PE ratio of 0.79, a PEG ratio of 1.28 and a beta of 0.64. Playtech has a 12-month low of GBX 210 and a 12-month high of GBX 447. The business's 50 day simple moving average is GBX 341.52 and its 200-day simple moving average is GBX 307.64. The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 24.36.

Playtech declared that its Board of Directors has approved a stock repurchase plan on Friday, March 27th that permits the company to buyback 5,660,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Playtech Company Profile

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.

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