International Game Technology PLC (NYSE:IGT) Receives $31.00 Average Price Target from Brokerages

International Game Technology PLC (NYSE:IGT) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

Several equities analysts have commented on the stock. Argus dropped their target price on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Stifel Nicolaus reiterated a “hold” rating and set a $26.00 price target (down from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. B. Riley began coverage on International Game Technology in a research note on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. Truist Financial lowered their target price on International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its holdings in International Game Technology by 113.2% during the third quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after purchasing an additional 489 shares during the last quarter. CWM LLC raised its position in shares of International Game Technology by 166.5% in the third quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after purchasing an additional 561 shares during the period. Amalgamated Bank lifted its stake in shares of International Game Technology by 4.2% during the 3rd quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock valued at $508,000 after buying an additional 682 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in International Game Technology by 10.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock worth $231,000 after buying an additional 805 shares during the period. Finally, Allworth Financial LP grew its stake in International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

International Game Technology Trading Up 0.7 %

Shares of International Game Technology stock opened at $20.05 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. The stock has a fifty day simple moving average of $21.97 and a 200 day simple moving average of $25.15. International Game Technology has a 12-month low of $19.48 and a 12-month high of $33.99. The company has a market capitalization of $3.99 billion, a P/E ratio of 26.38 and a beta of 1.94.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that International Game Technology will post 1.47 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were paid a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.99%. International Game Technology’s payout ratio is presently 105.26%.

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.