Flutter Entertainment (NYSE:FLUT) Stock Rating Upgraded by Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $295.00 target price on the stock, up from their prior target price of $224.00. Wells Fargo & Company‘s price objective suggests a potential upside of 30.55% from the stock’s previous close.

A number of other equities analysts also recently weighed in on FLUT. Moffett Nathanson upped their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Craig Hallum upped their target price on Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. BTIG Research lifted their price target on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Benchmark boosted their price target on Flutter Entertainment from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $255.00 price objective on shares of Flutter Entertainment in a research report on Thursday, September 26th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $275.92.

Flutter Entertainment Trading Down 1.8 %

Shares of FLUT opened at $225.96 on Monday. The business’s 50-day moving average is $218.99 and its 200-day moving average is $202.57. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Sell-side analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in Flutter Entertainment in the 1st quarter valued at $28,000. Rothschild Investment LLC acquired a new position in Flutter Entertainment in the 2nd quarter valued at approximately $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $40,000. Hilltop National Bank acquired a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $101,000. Finally, Financial Perspectives Inc bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $102,000.

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.