International Game Technology PLC (NYSE:IGT) dropped 5.6% during trading on Thursday . The company traded as low as $17.02 and last traded at $17.12. Approximately 3,648,251 shares changed hands during trading, an increase of 49% from the average daily volume of 2,444,970 shares. The stock had previously closed at $18.14.

IGT has been the topic of a number of recent analyst reports. ValuEngine cut International Game Technology from a “hold” rating to a “sell” rating in a report on Friday, September 7th. SunTrust Banks assumed coverage on International Game Technology in a research report on Monday, October 1st. They set a “hold” rating and a $21.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $35.00 price objective on shares of International Game Technology in a research report on Wednesday, August 1st. Societe Generale assumed coverage on International Game Technology in a research report on Wednesday. They set a “buy” rating and a $20.50 price objective for the company. Finally, Credit Suisse Group assumed coverage on International Game Technology in a research report on Tuesday, August 14th. They set a “neutral” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $28.79.

The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 10.92 and a beta of 1.38. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.01 and a quick ratio of 0.88.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. International Game Technology had a negative net margin of 13.37% and a positive return on equity of 12.26%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, analysts forecast that International Game Technology PLC will post 1.16 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the business. OppenheimerFunds Inc. boosted its position in shares of International Game Technology by 0.4% during the second quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock valued at $150,342,000 after buying an additional 25,389 shares during the period. Peregrine Capital Management LLC raised its stake in shares of International Game Technology by 13.3% during the third quarter. Peregrine Capital Management LLC now owns 1,486,846 shares of the company’s stock valued at $29,365,000 after acquiring an additional 174,799 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of International Game Technology during the second quarter valued at approximately $23,240,000. FMR LLC bought a new stake in shares of International Game Technology during the second quarter valued at approximately $22,797,000. Finally, Marshall Wace LLP raised its stake in shares of International Game Technology by 792.1% during the second quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock valued at $14,949,000 after acquiring an additional 571,127 shares in the last quarter. Institutional investors and hedge funds own 47.15% of the company’s stock.

International Game Technology Company Profile (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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