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

International Game Technology PLC (NYSE:IGT - Get Free Report) has received a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.67.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in shares of International Game Technology in the third quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Game Technology during the second quarter worth approximately $31,000. Blue Trust Inc. acquired a new stake in shares of International Game Technology during the second quarter worth about $44,000. Hexagon Capital Partners LLC grew its stake in shares of International Game Technology by 1,633.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company's stock valued at $45,000 after purchasing an additional 2,091 shares during the last quarter. Finally, CWM LLC raised its position in International Game Technology by 156.7% during the 2nd quarter. CWM LLC now owns 2,321 shares of the company's stock worth $47,000 after buying an additional 1,417 shares during the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Up 2.0 %

NYSE:IGT traded up $0.42 on Thursday, hitting $20.94. The stock had a trading volume of 662,512 shares, compared to its average volume of 1,125,752. The company has a market cap of $4.17 billion, a PE ratio of 19.81 and a beta of 1.95. The business's fifty day moving average is $21.36 and its 200 day moving average is $20.88. International Game Technology has a 52 week low of $18.90 and a 52 week high of $29.95. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities research analysts expect that International Game Technology will post 1.48 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. International Game Technology's dividend payout ratio (DPR) is 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.