Paddy Power Betfair (PPB) Upgraded to Hold at Berenberg Bank

Berenberg Bank upgraded shares of Paddy Power Betfair (LON:PPB) to a hold rating in a report published on Friday. They currently have GBX 6,500 ($84.93) target price on the stock, down from their previous target price of GBX 7,000 ($91.47).

Several other brokerages also recently weighed in on PPB. Shore Capital reaffirmed a sell rating on shares of Paddy Power Betfair in a research report on Wednesday, August 8th. Citigroup downgraded Paddy Power Betfair to a sell rating in a research report on Monday, August 13th. Peel Hunt reaffirmed a reduce rating on shares of Paddy Power Betfair in a research report on Wednesday, August 8th. Finally, Numis Securities upped their target price on Paddy Power Betfair from GBX 8,320 ($108.72) to GBX 8,530 ($111.46) and gave the stock a hold rating in a research report on Wednesday, August 8th. Eight research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of GBX 7,386.15 ($96.51).

PPB stock traded up GBX 5 ($0.07) during trading on Friday, reaching GBX 6,015 ($78.60). 1,491,352 shares of the stock traded hands, compared to its average volume of 192,747. Paddy Power Betfair has a 52-week low of GBX 6,572.50 ($85.88) and a 52-week high of GBX 8,967 ($117.17).

The firm also recently declared a dividend, which was paid on Monday, September 24th. Investors of record on Thursday, August 23rd were paid a GBX 67 ($0.88) dividend. This represents a dividend yield of 0.89%. The ex-dividend date was Thursday, August 23rd.

In other Paddy Power Betfair news, insider Peter Jackson purchased 930 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of GBX 7,168 ($93.66) per share, for a total transaction of £66,662.40 ($87,106.23).

Paddy Power Betfair Company Profile

Paddy Power Betfair plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the Unites States, and internationally. The company operates through Online, Australia, Retail, and US segments. It offers exchange sports betting and pari-mutuel betting products; fixed odds games betting; online games and casino; peer to peer games, including online bingo and poker; and business-to-business services.

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Analyst Recommendations for Paddy Power Betfair (LON:PPB)

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