International Game Technology (NYSE:IGT) Reaches New 12-Month High at $18.90

International Game Technology PLC (NYSE:IGT) shares hit a new 52-week high during trading on Thursday . The company traded as high as $18.90 and last traded at $18.86, with a volume of 12904 shares traded. The stock had previously closed at $17.92.

Several equities analysts recently issued reports on IGT shares. Macquarie upped their price objective on International Game Technology from $15.00 to $16.00 in a research report on Thursday, September 24th. Argus raised International Game Technology from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday. Union Gaming Research raised International Game Technology from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on International Game Technology from $16.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Finally, Credit Suisse Group raised International Game Technology from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $5.00 to $14.00 in a research report on Thursday, November 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.17.

The firm has a market capitalization of $3.76 billion, a PE ratio of -4.46 and a beta of 2.25. The stock’s 50-day moving average price is $15.47 and its 200 day moving average price is $11.84. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.08 and a quick ratio of 1.01.

International Game Technology (NYSE:IGT) last issued its earnings results on Monday, November 16th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.42. The business had revenue of $981.51 million for the quarter, compared to analyst estimates of $801.03 million. International Game Technology had a negative net margin of 21.60% and a positive return on equity of 0.59%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts forecast that International Game Technology PLC will post -0.09 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of International Game Technology by 222.8% in the first quarter. FMR LLC now owns 2,057,614 shares of the company’s stock valued at $26,729,000 after purchasing an additional 1,420,212 shares during the period. California Public Employees Retirement System raised its position in shares of International Game Technology by 0.5% during the second quarter. California Public Employees Retirement System now owns 226,624 shares of the company’s stock worth $2,017,000 after acquiring an additional 1,149 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of International Game Technology by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 611,673 shares of the company’s stock worth $5,445,000 after acquiring an additional 196,892 shares during the last quarter. Bank of Montreal Can raised its position in shares of International Game Technology by 500.1% during the second quarter. Bank of Montreal Can now owns 12,164 shares of the company’s stock worth $118,000 after acquiring an additional 10,137 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of International Game Technology by 16.1% during the second quarter. Stifel Financial Corp now owns 196,105 shares of the company’s stock worth $1,745,000 after acquiring an additional 27,164 shares during the last quarter. Hedge funds and other institutional investors own 39.67% of the company’s stock.

International Game Technology Company Profile (NYSE:IGT)

International Game Technology PLC operates and provides gaming technology products and services worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy. It designs, sells, and operates a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.

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