Playtech (LON:PTEC) Sets New 52-Week High – Time to Buy?

Shares of Playtech plc (LON:PTEC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 437.20 and last traded at GBX 436.80, with a volume of 499495 shares trading hands. The stock had previously closed at GBX 418.40.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PTEC. Jefferies Financial Group restated a “hold” rating and issued a GBX 405 target price on shares of Playtech in a research note on Thursday, July 9th. Citigroup upgraded Playtech to a “buy” rating in a research report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Playtech from GBX 443 to GBX 460 and gave the company a “buy” rating in a report on Thursday, May 21st.

Playtech Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.50 and a debt-to-equity ratio of 23.48. The firm has a market capitalization of £1.21 billion, a PE ratio of 0.90, a PEG ratio of 1.28 and a beta of 0.66. The stock has a 50-day moving average price of GBX 385.21 and a 200 day moving average price of GBX 364.47.

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.