Playtech (LON:PTEC) Given “Hold” Rating at Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of Playtech (LON:PTEC) in a research report report published on Thursday morning,London Stock Exchange reports. The brokerage currently has a GBX 405 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd. Citigroup increased their price target on Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a research note on Monday, March 30th.

Playtech Price Performance

Shares of PTEC opened at GBX 386.76 on Thursday. Playtech has a 12-month low of GBX 210 and a 12-month high of GBX 447. The business has a 50-day simple moving average of GBX 343.18 and a two-hundred day simple moving average of GBX 308.15. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 24.36. The stock has a market cap of £1.09 billion, a PE ratio of 0.79, a PEG ratio of 1.28 and a beta of 0.63.

Playtech announced that its Board of Directors has authorized a share buyback program on Friday, March 27th that allows the company to repurchase 5,660,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.