Shares of International Game Technology PLC (NYSE:IGT) gapped up before the market opened on Wednesday . The stock had previously closed at $9.65, but opened at $9.25. International Game Technology shares last traded at $9.86, with a volume of 212,232 shares.

IGT has been the subject of a number of recent analyst reports. Credit Suisse Group assumed coverage on International Game Technology in a research report on Thursday, May 21st. They issued an “underperform” rating and a $5.00 price objective for the company. ValuEngine raised shares of International Game Technology from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Societe Generale cut shares of International Game Technology from a “buy” rating to a “hold” rating and set a $8.20 price objective for the company. in a research report on Thursday, May 21st. Union Gaming Research lowered shares of International Game Technology from a “buy” rating to a “hold” rating and set a $8.50 target price on the stock. in a research report on Tuesday, May 19th. Finally, Deutsche Bank reissued a “buy” rating and set a $11.00 target price (up previously from $9.00) on shares of International Game Technology in a research note on Monday, May 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.62.

The company has a 50-day moving average of $7.23 and a 200-day moving average of $10.99. The company has a debt-to-equity ratio of 4.01, a quick ratio of 1.28 and a current ratio of 1.37. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -6.37 and a beta of 1.87.

International Game Technology (NYSE:IGT) last announced its earnings results on Monday, May 18th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.10. International Game Technology had a positive return on equity of 8.68% and a negative net margin of 6.71%. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $935.49 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was down 17.9% on a year-over-year basis. As a group, equities research analysts forecast that International Game Technology PLC will post -0.75 EPS for the current year.

A number of institutional investors have recently made changes to their positions in IGT. FMR LLC boosted its holdings in shares of International Game Technology by 222.8% in the first quarter. FMR LLC now owns 2,057,614 shares of the company’s stock valued at $26,729,000 after acquiring an additional 1,420,212 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of International Game Technology by 309.1% during the 4th quarter. Russell Investments Group Ltd. now owns 310,107 shares of the company’s stock worth $4,632,000 after purchasing an additional 234,298 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of International Game Technology by 17.1% during the 4th quarter. Seelaus Asset Management LLC now owns 18,325 shares of the company’s stock worth $274,000 after purchasing an additional 2,675 shares during the period. Boston Partners increased its holdings in shares of International Game Technology by 18.8% in the 4th quarter. Boston Partners now owns 9,854,996 shares of the company’s stock valued at $147,532,000 after purchasing an additional 1,561,993 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of International Game Technology in the fourth quarter valued at about $129,000. Institutional investors own 38.22% 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 four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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