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

Flutter Entertainment (NYSE:FLUT) had its price objective upped by equities research analysts at Benchmark from $265.00 to $275.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 4.02% from the stock’s current price.

FLUT has been the subject of a number of other reports. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. JMP Securities upped their price target on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Barclays lifted their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer raised their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America assumed coverage on Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $293.77.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded up $16.21 during trading on Wednesday, reaching $264.38. 2,193,493 shares of the company’s stock traded hands, compared to its average volume of 1,118,068. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $266.22. The company has a 50 day moving average of $230.06 and a 200-day moving average of $208.23.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, sell-side analysts anticipate that Flutter Entertainment will post 4.72 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of large investors have recently added to or reduced their stakes in FLUT. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $40,000. US Bancorp DE increased its stake in Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter worth about $82,000. Finally, Hilltop National Bank acquired a new stake in Flutter Entertainment during the 2nd quarter worth about $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.