International Game Technology PLC (NYSE:IGT) Gives Analysts Average ‘Buy’ Recommendation

Shares of International Game Technology PLC (NYSE:IGT – Get Rating) received a “Buy” consensus rating from seven brokerages currently covering the company, Marketbeat Ratings reported. Five investment analysts rated the stock by buyout rating. The average 12-month price target among analysts who covered the stock last year was $35.00.

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

Institutional Investors Focus on International Gaming Technology

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A few institutional investors have traded stocks recently. Goldman Sachs Group Inc. increased its stake in International Game Technology by 87.3% in Q2. Goldman Sachs Group Inc. owns 2,343,145 shares of the company worth $43,488,000 after purchasing an additional 1,092,029 shares last quarter. Saltoro Capital LP purchased a new stake in International Game Technology stock worth approximately $1,392,000 in Q2. Captrust Financial Advisors increased its stake in International Game Technology by 9.8% in Q2. Captrust Financial Advisors now owns 6,582 shares of the company, valued at $122,000, after purchasing another 586 shares last quarter. Woodline Partners LP increased its stake in International Game Technology by 341.9% in the second quarter. Woodline Partners LP owns 210,783 shares of the company worth $3,912,000, after purchasing an additional 163,088 shares during the period. Most recently, Paloma Partners Management Co purchased a new share of International Game Technology shares worth approximately $245,000 in the second quarter. 44.33% of the stock belongs to institutional investors.

International Gaming Technology Stock Performance

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

International Gaming Technology Dividend Announcement

The business also recently announced a quarterly dividend payable on Tuesday, August 30. Record shareholders will be paid a $0.20 dividend on Tuesday, August 16. This represents an annual dividend of $0.80 and a dividend yield of 3.91%. The old dividend date is Monday, August 15. International Game Technology’s payout rate is 103.90%.

International Gaming Technology Company Profile

(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 divisions: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a range of point-of-sale machines that reconcile lottery funds between the retailer and the lottery authority; provides online lottery transaction processing systems; generates ticket games instantly; and offers printing 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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