Playags Inc (AGS) Given Consensus Rating of “Buy” by Brokerages

Shares of Playags Inc (NYSE:AGS) have been assigned a consensus rating of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.86.

A number of brokerages have weighed in on AGS. Zacks Investment Research downgraded shares of Playags from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Deutsche Bank increased their price target on shares of Playags to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. Telsey Advisory Group began coverage on shares of Playags in a report on Thursday, August 23rd. They issued an “outperform” rating and a $37.00 price target for the company. Credit Suisse Group began coverage on shares of Playags in a report on Tuesday, August 14th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Jefferies Financial Group raised shares of Playags from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, August 10th.

Shares of NYSE AGS traded down $0.68 during trading hours on Wednesday, hitting $29.14. 251,132 shares of the stock were exchanged, compared to its average volume of 309,440. The company has a current ratio of 2.74, a quick ratio of 2.01 and a debt-to-equity ratio of 3.55. The company has a market cap of $1.05 billion and a P/E ratio of -15.10. Playags has a one year low of $16.66 and a one year high of $32.80.

Playags (NYSE:AGS) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). The firm had revenue of $72.82 million for the quarter, compared to the consensus estimate of $64.67 million. Playags had a negative return on equity of 40.01% and a negative net margin of 10.91%. Playags’s quarterly revenue was up 45.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.87) earnings per share. equities research analysts forecast that Playags will post -0.44 EPS for the current fiscal year.

In other Playags news, major shareholder Ap Gaming Voteco, Llc sold 6,325,000 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $28.01, for a total value of $177,163,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AGS. Caledonia Private Investments Pty Ltd acquired a new position in shares of Playags in the 1st quarter valued at $37,447,000. Park West Asset Management LLC acquired a new stake in shares of Playags during the 1st quarter worth about $18,514,000. BlackRock Inc. acquired a new stake in shares of Playags during the 1st quarter worth about $13,988,000. Principal Financial Group Inc. acquired a new stake in shares of Playags during the 1st quarter worth about $12,030,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Playags during the 2nd quarter worth about $12,247,000.

About Playags

PlayAGS, Inc designs and supplies electronic gaming machines (EGMs), and other products and services for the gaming industry in the United States and internationally. It operates in three segments: EGMs, Table Products, and Interactive. The EGM segment offers various video slot titles, which include ICON, Halo, Colossal Diamonds cabinet, and Orion; and conversion kits that allow existing game titles to be converted to other game titles offered within that operating platform.

Further Reading: Earnings Per Share (EPS)

Analyst Recommendations for Playags (NYSE:AGS)

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