Brokerages Set International Game Technology PLC (NYSE:IGT) PT at $28.67

Shares of International Game Technology PLC (NYSE:IGT) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.67.

Several research analysts have recently commented on IGT shares. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Stifel Nicolaus increased their price objective on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th.

International Game Technology Stock Up 0.5 %

Shares of IGT opened at $21.12 on Thursday. The company has a market capitalization of $4.20 billion, a P/E ratio of 20.11 and a beta of 1.95. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. International Game Technology has a one year low of $18.90 and a one year high of $29.17. The business’s 50 day simple moving average is $21.31 and its 200-day simple moving average is $20.87.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. International Game Technology’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. As a group, sell-side analysts predict that International Game Technology will post 1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in shares of International Game Technology by 63.4% in the 1st quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock valued at $242,880,000 after purchasing an additional 4,170,813 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of International Game Technology by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock valued at $158,431,000 after purchasing an additional 1,169,999 shares during the period. Deprince Race & Zollo Inc. lifted its stake in shares of International Game Technology by 75.5% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after purchasing an additional 995,570 shares during the period. Solel Partners LP acquired a new position in shares of International Game Technology in the 2nd quarter valued at $43,478,000. Finally, Long Pond Capital LP acquired a new position in shares of International Game Technology in the 2nd quarter valued at $32,053,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases 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, as well as iLottery solutions and services.