Barclays Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective raised by stock analysts at Barclays from $275.00 to $301.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 12.73% from the company’s current price.

Several other research firms also recently weighed in on FLUT. BTIG Research lifted their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer lifted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group assumed coverage on Flutter Entertainment in a report on Friday, November 8th. They set a “buy” rating and a $306.00 target price for the company. JMP Securities boosted 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 note on Monday, October 14th. Finally, Bank of America began coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They issued 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $267.00 on Wednesday. The company’s 50-day moving average price is $231.87 and its 200 day moving average price is $209.07. Flutter Entertainment has a 12-month low of $149.00 and a 12-month high of $269.90.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, analysts forecast that Flutter Entertainment will post 4.65 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rothschild Investment LLC acquired a new position in Flutter Entertainment in the second quarter valued at approximately $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the second quarter worth approximately $40,000. US Bancorp DE lifted its position in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $82,000. Finally, Hilltop National Bank purchased a new position in shares of Flutter Entertainment in the 2nd 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.