International Game Technology (IGT) Trading Down 7.2%

International Game Technology PLC (NYSE:IGT) shares traded down 7.2% during mid-day trading on Monday . The company traded as low as $15.37 and last traded at $15.53. 5,964,131 shares were traded during mid-day trading, an increase of 136% from the average session volume of 2,524,652 shares. The stock had previously closed at $16.74.

A number of research analysts have issued reports on the company. ValuEngine downgraded International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Societe Generale assumed coverage on International Game Technology in a research note on Wednesday, October 17th. They issued a “buy” rating and a $20.50 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price objective on shares of International Game Technology in a research note on Wednesday, August 1st. Credit Suisse Group assumed coverage on International Game Technology in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, SunTrust Banks assumed coverage on International Game Technology in a research note on Monday, October 1st. They issued a “hold” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.79.

The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.22 and a beta of 1.38.



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

Several hedge funds have recently bought and sold shares of the company. Stephens Inc. AR grew its stake in shares of International Game Technology by 11.0% during the 2nd quarter. Stephens Inc. AR now owns 26,111 shares of the company’s stock worth $607,000 after acquiring an additional 2,586 shares during the period. Verition Fund Management LLC grew its stake in shares of International Game Technology by 10.7% during the 2nd quarter. Verition Fund Management LLC now owns 30,960 shares of the company’s stock worth $720,000 after acquiring an additional 2,996 shares during the period. D.A. Davidson & CO. grew its stake in shares of International Game Technology by 17.1% during the 2nd quarter. D.A. Davidson & CO. now owns 22,128 shares of the company’s stock worth $514,000 after acquiring an additional 3,238 shares during the period. State of Alaska Department of Revenue grew its stake in shares of International Game Technology by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,870 shares of the company’s stock worth $275,000 after acquiring an additional 3,390 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of International Game Technology during the 3rd quarter worth $453,000. 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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