International Game Technology PLC (NYSE:IGT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

International Game Technology PLC (NYSE:IGT) has received an average rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

IGT has been the subject of a number of analyst reports. Truist Financial decreased their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

International Game Technology Stock Up 1.3 %

NYSE:IGT opened at $18.00 on Wednesday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology has a 12-month low of $16.42 and a 12-month high of $27.27. The stock’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $19.55. The firm has a market capitalization of $3.58 billion, a P/E ratio of 30.01 and a beta of 1.91.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. During the same period last year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that International Game Technology will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new position in International Game Technology in the third quarter valued at about $1,209,000. Massachusetts Financial Services Co. MA boosted its position in shares of International Game Technology by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after buying an additional 47,442 shares during the period. Qsemble Capital Management LP boosted its position in shares of International Game Technology by 230.0% during the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after buying an additional 29,929 shares during the period. Zacks Investment Management acquired a new position in shares of International Game Technology during the third quarter worth about $645,000. Finally, Stifel Financial Corp boosted its position in shares of International Game Technology by 22.2% during the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after buying an additional 10,193 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.

About International Game Technology

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.