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

Playtech (LON:PTEC)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Wednesday,Digital Look reports. They presently have a GBX 405 target price on the stock. Jefferies Financial Group’s price target points to a potential upside of 9.11% from the company’s current price.

Several other analysts also recently weighed in on the stock. Citigroup lifted their price objective on shares of Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a research report on Monday, March 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a report on Friday, January 23rd.

Playtech Trading Up 2.2%

Shares of LON:PTEC opened at GBX 371.20 on Wednesday. The company has a market cap of £1.03 billion, a PE ratio of 0.76, a P/E/G ratio of 1.28 and a beta of 0.65. The company’s 50-day moving average price is GBX 367.84 and its 200 day moving average price is GBX 315.52. Playtech has a fifty-two week low of GBX 210 and a fifty-two week high of GBX 447. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 24.36.

Playtech announced that its board has approved a share buyback program on Friday, March 27th that permits the company to repurchase 5,660,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board 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.