Flutter Entertainment (NYSE:FLUT) Earns Buy Rating from Analysts at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Flutter Entertainment (NYSE:FLUT - Get Free Report) in a report issued on Friday, Marketbeat reports. The firm set a "buy" rating and a $320.00 price target on the stock. Stifel Nicolaus' target price points to a potential upside of 21.86% from the stock's current price.

Several other analysts also recently commented on FLUT. UBS Group raised their target price on Flutter Entertainment from $308.00 to $320.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Oppenheimer boosted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a "buy" rating and a $300.00 price target for the company. JMP Securities upped their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Finally, 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 report on Wednesday, November 13th. Seventeen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus target price of $304.44.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded up $5.03 during mid-day trading on Friday, hitting $262.59. The company had a trading volume of 848,000 shares, compared to its average volume of 1,292,429. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment has a one year low of $174.03 and a one year high of $284.79. The firm has a fifty day moving average price of $265.49 and a 200 day moving average price of $232.33.

Flutter Entertainment announced that its board has initiated a stock repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. lifted its position in Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company's stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. US Bancorp DE grew 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 buying an additional 99 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Flutter Entertainment in the 3rd quarter worth $82,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Flutter Entertainment in the 3rd quarter worth $190,000.

About Flutter Entertainment

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.