Analysts Set International Game Technology PLC (NYSE:IGT) Target Price at $28.67

Shares of International Game Technology PLC (NYSE:IGT) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $28.67.

Several brokerages have recently issued reports on IGT. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research note on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in International Game Technology by 10.4% in the 4th quarter. Principal Financial Group Inc. now owns 12,545 shares of the company’s stock valued at $344,000 after buying an additional 1,186 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $1,776,000. Capital Research Global Investors grew its stake in shares of International Game Technology by 102.1% in the fourth quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after acquiring an additional 3,129,559 shares during the last quarter. Gabelli Funds LLC increased its position in International Game Technology by 45.4% during the fourth quarter. Gabelli Funds LLC now owns 176,100 shares of the company’s stock worth $4,827,000 after acquiring an additional 55,000 shares during the period. Finally, Beryl Capital Management LLC acquired a new position in International Game Technology during the 4th quarter valued at $16,431,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of IGT opened at $20.61 on Friday. The company has a market capitalization of $4.10 billion, a PE ratio of 19.63 and a beta of 1.96. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. The company’s 50 day moving average price is $21.81 and its 200 day moving average price is $21.00. International Game Technology has a 52 week low of $18.90 and a 52 week high of $31.85.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted $0.45 EPS. International Game Technology’s revenue was down .6% on a year-over-year basis. Research analysts expect that International Game Technology will post 1.48 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.88%. International Game Technology’s payout ratio is presently 76.19%.

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.