Craig Hallum Raises Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its target price raised by Craig Hallum from $240.00 to $275.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 11.00% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BTIG Research raised their price target on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Moffett Nathanson upped their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $260.45.

Flutter Entertainment Trading Up 3.3 %

Shares of NYSE:FLUT traded up $7.89 during trading on Thursday, reaching $247.75. 1,483,172 shares of the stock traded hands, compared to its average volume of 1,019,512. The stock has a 50-day moving average of $207.75 and a two-hundred day moving average of $200.69. Flutter Entertainment has a 52-week low of $148.00 and a 52-week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced 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 business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, equities research analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Hollencrest Capital Management purchased a new position in Flutter Entertainment during the first quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in Flutter Entertainment in the 2nd quarter valued at about $37,000. CWM LLC purchased a new position in Flutter Entertainment during the second quarter worth about $40,000. YHB Investment Advisors Inc. acquired a new stake in shares of Flutter Entertainment during the first quarter valued at about $45,000. Finally, Financial Perspectives Inc purchased a new stake in shares of Flutter Entertainment in the 1st quarter valued at approximately $102,000.

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.