Playtech (LON:PTEC) Stock Price Up 6.3% – Still a Buy?

Playtech plc (LON:PTEC) shares rose 6.3% on Thursday . The stock traded as high as GBX 365 and last traded at GBX 355.06. Approximately 1,202,800 shares traded hands during trading, a decline of 91% from the average daily volume of 14,017,444 shares. The stock had previously closed at GBX 334.

Analysts Set New Price Targets

PTEC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd. Citigroup upped their price target on shares of Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a report on Monday.

Playtech Stock Down 1.7%

The firm’s fifty day moving average is GBX 332.20 and its 200-day moving average is GBX 307.09. The company has a market capitalization of £1.01 billion, a P/E ratio of 0.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42.

Playtech announced that its Board of Directors has authorized a share repurchase plan on Friday, March 27th that authorizes the company to repurchase 5,660,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.