International Game Technology PLC (NYSE:IGT) given analyst average recommendation of “Buy”.

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 price objective among analysts that have covered the stock in the last year is $35.00.

Several research firms have recently weighed in on IGT. Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $30.00 to $26.00 in a note investigation on Thursday, May 12. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 16th. Truist Financial cut their price target 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 lowered 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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A number of 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% during 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 raised its stake in shares of International Game Technology by 9.8% during the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company’s stock valued at $122,000 after purchasing an additional 586 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of International Game Technology by 341.9% during the second quarter. Woodline Partners LP now owns 210,783 shares of the company’s stock worth $3,912,000 after purchasing 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 shares are owned by institutional investors.

Performance of international gaming technology stocks

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 company 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 Game Technology Dividend Announcement

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

International gaming technology company profile

(get a score)

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 suite of point-of-sale machines that reconcile lottery funds between the retailer and the lottery authority; provides online lottery transaction processing systems; produces sets of instant tickets; and offers printing services such as instant ticket marketing plans and graphic design, programming, packaging, shipping and delivery services.

See also

Analyst Recommendations for International Gaming Technology (NYSE:IGT)

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