Barclays Raises Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its target price upped by Barclays from $263.00 to $275.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research report on Monday, September 23rd. They set a buy rating and a $270.00 price target for the company. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Berenberg Bank raised shares of Flutter Entertainment to a strong-buy rating in a report on Tuesday, August 27th. Susquehanna increased their price objective on Flutter Entertainment from $222.00 to $230.00 and gave the company a positive rating in a report on Wednesday, August 14th. Finally, Morgan Stanley began coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They issued an overweight rating and a $247.00 price objective for the company. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $260.45.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $238.33 on Thursday. The business has a fifty day moving average of $209.39 and a two-hundred day moving average of $201.13. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities analysts forecast that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in Flutter Entertainment in the 1st quarter worth approximately $28,000. Rothschild Investment LLC purchased a new stake in shares of Flutter Entertainment in the 2nd quarter valued at $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the second quarter worth $40,000. YHB Investment Advisors Inc. purchased a new position in shares of Flutter Entertainment during the first quarter worth $45,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment during the second quarter valued at $101,000.

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.