International Game Technology PLC (NYSE:IGT) at an average recommendation of “Buy” from analysts

Shares of International Game Technology PLC (NYSE:IGT – Get Rating) have received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $35.00.

A number of research firms recently weighed in on IGT. Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $30.00 to $26.00 in a research note on Thursday, May 12th. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 16th. Truist Financial decreased their price objective on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Stifel Nicolaus reduced their target price on International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd.

Institutional investors weigh in on international gaming technology

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Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of International Game Technology by 87.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company’s stock valued at $43,488,000 after buying an additional 1,092,029 shares during the last quarter. Saltoro Capital LP purchased a new stake in shares of International Game Technology during the second quarter valued at approximately $1,392,000. Captrust Financial Advisors boosted its stake in shares of International Game Technology by 9.8% in the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company’s stock valued at $122,000 after buying an additional 586 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of International Game Technology by 341.9% in the second quarter. Woodline Partners LP now owns 210,783 shares of the company’s stock valued at $3,912,000 after buying an additional 163,088 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of International Game Technology during the second quarter valued at approximately $245,000. 44.33% of the stock is owned by institutional investors.

International Game Technology Stock Performance

Shares of IGT stock opened at $20.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 3.53. The business has a 50 day simple moving average of $19.44 and a two hundred day simple moving average of $22.43. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 26.56 and a beta of 1.83. International Game Technology has a 52-week low of $16.46 and a 52-week high of $32.95.

International Gaming Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be paid a $0.20 dividend. This represents a $0.80 annual dividend and a dividend yield of 3.91%. The ex-dividend date is Monday, August 15th. International Game Technology’s payout ratio is 103.90%.

Profile of an international gaming technology company

(Get Rating)

International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital Betting. The company designs, sells, operates and leases a range of vending machines that reconcile lottery funds between the retailer and the lottery authority; provides systems for processing online lottery transactions; produces instant ticket games; and offers print services such as instant ticket marketing plans and graphic design, programming, packaging, shipping and delivery services.

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Analyst Recommendations for International Gaming Technology (NYSE:IGT)

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