International Game Technology (IGT) Shares Gap Up to $15.76

International Game Technology PLC (NYSE:IGT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.18, but opened at $15.76. International Game Technology shares last traded at $16.34, with a volume of 4127465 shares traded.

Several equities analysts recently issued reports on the company. SunTrust Banks upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank reiterated a “buy” rating and issued a $29.00 price objective on shares of International Game Technology in a report on Monday, December 24th. ValuEngine cut International Game Technology from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Jefferies Financial Group set a $29.00 price objective on International Game Technology and gave the stock a “buy” rating in a report on Thursday, December 20th. Finally, Susquehanna Bancshares began coverage on International Game Technology in a research note on Friday, December 7th. They issued a “positive” rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.69.

The company has a market cap of $3.33 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.01 and a beta of 1.33. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.03 and a quick ratio of 0.88.

International Game Technology (NYSE:IGT) last released its earnings results on Wednesday, October 31st. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, analysts forecast that International Game Technology PLC will post 1.1 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. increased its holdings in shares of International Game Technology by 41.3% in the 3rd quarter. Marshall Wace North America L.P. now owns 5,747,367 shares of the company’s stock worth $113,510,000 after purchasing an additional 1,680,947 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of International Game Technology by 65.9% in the third quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock worth $76,038,000 after acquiring an additional 1,530,000 shares during the period. Jennison Associates LLC grew its holdings in shares of International Game Technology by 21.4% in the third quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock worth $37,527,000 after acquiring an additional 334,822 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of International Game Technology by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,871,808 shares of the company’s stock worth $36,968,000 after acquiring an additional 6,156 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of International Game Technology by 50.7% in the third quarter. Vanguard Group Inc. now owns 1,700,216 shares of the company’s stock worth $33,580,000 after acquiring an additional 571,981 shares during the period. 51.70% of the stock is owned by institutional investors.

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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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