Playtech (LON:PTEC) Trading 9.7% Higher – Time to Buy?

Playtech plc (LON:PTEC)’s share price was up 9.7% during trading on Tuesday . The stock traded as high as GBX 308 and last traded at GBX 299.55. Approximately 1,677,764 shares traded hands during mid-day trading, an increase of 98% from the average daily volume of 845,494 shares. The stock had previously closed at GBX 273.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PTEC. Deutsche Bank Aktiengesellschaft cut their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday. Jefferies Financial Group cut shares of Playtech to a “hold” rating and lowered their price objective for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th.

Playtech Trading Up 9.2%

The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The business has a 50 day simple moving average of GBX 274.42 and a 200-day simple moving average of GBX 329.72. The stock has a market capitalization of £841.76 million, a price-to-earnings ratio of 0.51, a PEG ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.