International Game Technology PLC (IGT) Given Average Recommendation of “Buy” by Analysts

International Game Technology PLC (NYSE:IGT) has earned an average rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.79.

A number of research analysts recently weighed in on the stock. Societe Generale assumed coverage on shares of International Game Technology in a research note on Wednesday. They issued a “buy” rating and a $20.50 price target on the stock. ValuEngine lowered shares of International Game Technology from a “sell” rating to a “strong sell” rating in a research note on Monday, October 8th. SunTrust Banks assumed coverage on shares of International Game Technology in a research note on Monday, October 1st. They issued a “hold” rating and a $21.00 price target on the stock. Credit Suisse Group assumed coverage on shares of International Game Technology in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $35.00 price target on shares of International Game Technology in a research note on Wednesday, August 1st.

A number of institutional investors have recently modified their holdings of IGT. Hilltop Holdings Inc. purchased a new position in International Game Technology in the 2nd quarter worth approximately $234,000. Centaurus Financial Inc. purchased a new position in International Game Technology in the 2nd quarter worth approximately $239,000. Peavine Capital LLC purchased a new position in International Game Technology in the 2nd quarter worth approximately $264,000. State of Alaska Department of Revenue lifted its stake in International Game Technology by 40.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,870 shares of the company’s stock worth $275,000 after purchasing an additional 3,390 shares in the last quarter. Finally, Visionary Asset Management Inc. purchased a new position in International Game Technology in the 2nd quarter worth approximately $307,000. 47.06% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology stock traded up $0.18 during midday trading on Wednesday, reaching $18.14. The company had a trading volume of 3,263,500 shares, compared to its average volume of 2,438,984. The firm has a market capitalization of $4.03 billion, a PE ratio of 11.93 and a beta of 1.38. International Game Technology has a 12-month low of $16.42 and a 12-month high of $31.00. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 2.97.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. International Game Technology had a negative net margin of 13.37% and a positive return on equity of 12.26%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts predict that International Game Technology will post 1.2 EPS for the current fiscal year.

About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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