Flutter Entertainment (NYSE:FLUT) Raised to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Flutter Entertainment (NYSE:FLUT) from an equal weight rating to an overweight rating in a report published on Monday, Marketbeat Ratings reports. They currently have $295.00 price target on the stock, up from their prior price target of $224.00.

A number of other research firms also recently weighed in on FLUT. Oppenheimer boosted their target price on shares of Flutter Entertainment from $255.00 to $300.00 and gave the stock an outperform rating in a report on Thursday, September 26th. Barclays upped their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an overweight rating in a report on Thursday, September 26th. Benchmark upped their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the company a buy rating in a report on Thursday, September 26th. BTIG Research boosted their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment presently has an average rating of Buy and an average price target of $275.92.

Flutter Entertainment Trading Up 4.8 %

Shares of NYSE FLUT opened at $230.10 on Monday. The firm’s fifty day moving average is $218.09 and its two-hundred day moving average is $202.37. 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, research analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a share buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new stake in Flutter Entertainment during the second quarter valued at approximately $37,000. CWM LLC purchased a new stake in Flutter Entertainment during the second quarter valued at approximately $40,000. Financial Perspectives Inc purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $102,000. Finally, Hilltop National Bank purchased a new stake in Flutter Entertainment during the second quarter valued at approximately $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.