International Game Technology (IGT) Sets New 1-Year Low at $15.01

Shares of International Game Technology PLC (NYSE:IGT) hit a new 52-week low during trading on Tuesday . The company traded as low as $15.01 and last traded at $15.86, with a volume of 2241807 shares. The stock had previously closed at $15.53.

IGT has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $35.00 price objective on shares of International Game Technology in a report on Wednesday, August 1st. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Credit Suisse Group initiated coverage on International Game Technology in a report on Tuesday, August 14th. They set a “neutral” rating and a $24.00 price objective for the company. SunTrust Banks initiated coverage on International Game Technology in a report on Monday, October 1st. They set a “hold” rating and a $21.00 price objective for the company. Finally, Societe Generale initiated coverage on International Game Technology in a report on Wednesday, October 17th. They set a “buy” rating and a $20.50 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.79.

The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.53 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 2.97.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, July 31st. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). International Game Technology had a positive return on equity of 12.26% and a negative net margin of 13.37%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.15 EPS. International Game Technology’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that International Game Technology PLC will post 1.16 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of International Game Technology by 11.0% in the 2nd quarter. Stephens Inc. AR now owns 26,111 shares of the company’s stock worth $607,000 after buying an additional 2,586 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of International Game Technology by 10.7% in the 2nd quarter. Verition Fund Management LLC now owns 30,960 shares of the company’s stock worth $720,000 after buying an additional 2,996 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of International Game Technology by 17.1% in the 2nd quarter. D.A. Davidson & CO. now owns 22,128 shares of the company’s stock worth $514,000 after buying an additional 3,238 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of 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 buying an additional 3,390 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in shares of International Game Technology in the 3rd quarter worth approximately $453,000. Hedge funds and other institutional investors own 47.35% of the company’s stock.

About International Game Technology (NYSE:IGT)

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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