Playtech (PTEC) Given “Buy” Rating at Shore Capital

Shore Capital reiterated their buy rating on shares of Playtech (LON:PTEC) in a report released on Monday, November 12th.

Several other equities research analysts have also commented on the stock. UBS Group reissued a buy rating and issued a GBX 1,080 ($14.11) price target on shares of Playtech in a report on Thursday, August 23rd. Citigroup cut their price target on shares of Playtech from GBX 1,000 ($13.07) to GBX 820 ($10.71) and set a buy rating for the company in a report on Friday, August 24th. Credit Suisse Group cut their price target on shares of Playtech from GBX 550 ($7.19) to GBX 520 ($6.79) and set a neutral rating for the company in a report on Tuesday, October 30th. Finally, Barclays reissued an equal weight rating on shares of Playtech in a report on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of GBX 724.56 ($9.47).

Shares of PTEC traded down GBX 5.30 ($0.07) during trading hours on Monday, hitting GBX 391.90 ($5.12). The stock had a trading volume of 2,476,661 shares, compared to its average volume of 1,800,000. Playtech has a fifty-two week low of GBX 670 ($8.75) and a fifty-two week high of GBX 1,020 ($13.33).

In related news, insider Ian R. Penrose bought 12,500 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were bought at an average price of GBX 468 ($6.12) per share, with a total value of £58,500 ($76,440.61).

Playtech Company Profile

Playtech Plc develops and sells software products for the online and land-based gambling industries worldwide. The company operates through Gaming B2B, Gaming B2C, and Financial segments. It operates an online trading platform to retail customers, which enable them to trade contracts for differences on various instruments, such as foreign exchange, commodities, equities, and indices; and provides B2B clients with technology for liquidity and clearing.

Further Reading: Why do corrections happen?

Analyst Recommendations for Playtech (LON:PTEC)

Receive News & Ratings for Playtech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Playtech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply