Barclays Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT) had its price target upped by stock analysts at Barclays from $275.00 to $301.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 12.73% from the stock’s previous close.

FLUT has been the topic of several other research reports. Bank of America started coverage on Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $295.00 price target on shares of Flutter Entertainment in a report on Wednesday, October 30th. JMP Securities raised their price target on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. UBS Group assumed coverage on shares of Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price objective for the company. Finally, Craig Hallum raised their target price on Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Trading Up 0.6 %

NYSE:FLUT opened at $267.00 on Wednesday. The company’s fifty day moving average price is $231.87 and its 200-day moving average price is $209.07. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $269.90.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities research analysts anticipate that Flutter Entertainment will post 4.65 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock buyback program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds have recently bought and sold shares of the business. Capital World Investors acquired a new stake in shares of Flutter Entertainment in the first quarter valued at approximately $2,880,796,000. Capital Research Global Investors purchased a new stake in Flutter Entertainment in the 1st quarter valued at $2,418,032,000. Vanguard Group Inc. acquired a new stake in shares of Flutter Entertainment in the 1st quarter worth $1,578,442,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Flutter Entertainment during the 3rd quarter worth $849,474,000. Finally, Bank of Montreal Can boosted its position in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after acquiring an additional 3,019,376 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.