Zacks Investment Research Upgrades PlayAGS (AGS) to Buy

PlayAGS (NYSE:AGS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $28.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 9.76% from the company’s previous close.

According to Zacks, “PlayAGS, Inc. is a designer and supplier of electronic gaming machines and other products and services for the gaming industry. The company’s product line-up includes Class III EGMs for commercial and Native American casinos, video bingo machines for select international markets, table game products and interactive social casino products. PlayAGS, Inc. is headquartered in Las Vegas, Nevada. “

Other research analysts have also issued reports about the company. ValuEngine raised PlayAGS from a “hold” rating to a “buy” rating in a report on Saturday. Roth Capital began coverage on PlayAGS in a research note on Monday, April 8th. They set a “buy” rating and a $35.00 price target for the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $35.00 price target on shares of PlayAGS in a research note on Wednesday, March 20th. Deutsche Bank reaffirmed a “buy” rating and set a $32.00 price target on shares of PlayAGS in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price target on shares of PlayAGS in a research note on Wednesday, February 13th. Ten equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $32.89.

NYSE AGS traded up $0.22 during trading hours on Monday, hitting $25.51. The company had a trading volume of 6,610 shares, compared to its average volume of 458,094. PlayAGS has a fifty-two week low of $18.67 and a fifty-two week high of $32.80. The company has a debt-to-equity ratio of 3.84, a current ratio of 3.18 and a quick ratio of 2.60. The firm has a market capitalization of $878.30 million, a PE ratio of -170.07, a P/E/G ratio of 3.16 and a beta of 0.64.

PlayAGS (NYSE:AGS) last issued its earnings results on Tuesday, March 5th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). PlayAGS had a negative return on equity of 3.45% and a negative net margin of 7.31%. The company had revenue of $72.10 million during the quarter, compared to analyst estimates of $69.89 million. Equities research analysts expect that PlayAGS will post 0.66 earnings per share for the current fiscal year.

In related news, major shareholder Ap Gaming Voteco, Llc sold 4,000,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.50, for a total transaction of $102,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of AGS. Legal & General Group Plc raised its holdings in PlayAGS by 20.6% during the 4th quarter. Legal & General Group Plc now owns 4,465 shares of the company’s stock valued at $103,000 after acquiring an additional 764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PlayAGS by 138.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,903 shares of the company’s stock worth $44,000 after buying an additional 1,105 shares in the last quarter. Hilltop Holdings Inc. raised its stake in PlayAGS by 7.5% in the fourth quarter. Hilltop Holdings Inc. now owns 23,000 shares of the company’s stock worth $529,000 after buying an additional 1,600 shares in the last quarter. Alambic Investment Management L.P. raised its stake in PlayAGS by 22.2% in the fourth quarter. Alambic Investment Management L.P. now owns 12,386 shares of the company’s stock worth $285,000 after buying an additional 2,248 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in PlayAGS in the fourth quarter worth about $54,000.

About PlayAGS

AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Their roots are firmly planted in the Class II Native American gaming market, but their customer-centric culture and growth have helped them branch out to become a leading all-inclusive commercial gaming supplier.

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Analyst Recommendations for PlayAGS (NYSE:AGS)

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