Societe Generale initiated coverage on shares of International Game Technology (NYSE:IGT) in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.50 price target on the stock.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of International Game Technology from a buy rating to a hold rating in a research note on Friday, August 3rd. Credit Suisse Group assumed coverage on shares of International Game Technology in a research note on Tuesday, August 14th. They issued a neutral rating and a $24.00 price objective on the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $35.00 price objective on shares of International Game Technology in a research note on Wednesday, August 1st. Finally, SunTrust Banks assumed coverage on shares of International Game Technology in a research note on Monday, October 1st. They issued a hold rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $28.79.

Shares of NYSE:IGT traded down $0.51 during trading on Wednesday, reaching $17.63. The stock had a trading volume of 90,466 shares, compared to its average volume of 2,438,984. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.88 and a current ratio of 1.01. International Game Technology has a 52 week low of $16.42 and a 52 week high of $31.00. The firm has a market cap of $4.03 billion, a P/E ratio of 11.72 and a beta of 1.38.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). International Game Technology had a negative net margin of 13.37% and a positive return on equity of 12.26%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Game Technology will post 1.2 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its stake in International Game Technology by 0.4% during the second quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock worth $150,342,000 after acquiring an additional 25,389 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in International Game Technology by 1.8% during the second quarter. Peregrine Capital Management LLC now owns 1,312,047 shares of the company’s stock worth $30,492,000 after acquiring an additional 23,365 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in International Game Technology during the second quarter worth $23,240,000. FMR LLC bought a new position in International Game Technology during the second quarter worth $22,797,000. Finally, Marshall Wace LLP boosted its stake in International Game Technology by 792.1% during the second quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock worth $14,949,000 after acquiring an additional 571,127 shares in the last quarter. 47.06% of the stock is currently owned by institutional investors and hedge funds.

About International Game Technology

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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Analyst Recommendations for International Game Technology (NYSE:IGT)

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