PlayAGS (NYSE:AGS) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of PlayAGS (NYSE:AGS) from a sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also recently commented on AGS. Deutsche Bank dropped their price target on PlayAGS from $9.00 to $5.00 and set a hold rating for the company in a research report on Friday, May 8th. ValuEngine raised shares of PlayAGS from a hold rating to a buy rating in a report on Thursday, April 30th. Union Gaming Research raised shares of PlayAGS from a hold rating to a buy rating in a research note on Friday, May 8th. Finally, SunTrust Banks cut shares of PlayAGS from a buy rating to a hold rating and dropped their price objective for the company from $14.00 to $4.00 in a research note on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. PlayAGS has an average rating of Hold and an average price target of $14.00.

Shares of NYSE AGS opened at $3.43 on Wednesday. The firm has a market cap of $109.66 million, a price-to-earnings ratio of -4.64 and a beta of 2.85. The company’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $6.32. The company has a quick ratio of 2.11, a current ratio of 3.00 and a debt-to-equity ratio of 4.96. PlayAGS has a 52-week low of $0.70 and a 52-week high of $21.59.

PlayAGS (NYSE:AGS) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.33). PlayAGS had a negative return on equity of 16.81% and a negative net margin of 9.12%. The firm had revenue of $54.31 million during the quarter, compared to analyst estimates of $69.97 million. Equities research analysts anticipate that PlayAGS will post -2.75 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new position in shares of PlayAGS during the 4th quarter valued at about $49,000. Citigroup Inc. raised its stake in PlayAGS by 524.9% during the fourth quarter. Citigroup Inc. now owns 8,249 shares of the company’s stock worth $100,000 after purchasing an additional 6,929 shares during the period. AQR Capital Management LLC acquired a new position in PlayAGS in the 4th quarter valued at about $121,000. Tower Research Capital LLC TRC purchased a new stake in shares of PlayAGS in the 1st quarter valued at approximately $30,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of PlayAGS during the 4th quarter worth approximately $147,000. Institutional investors and hedge funds own 85.70% of the company’s stock.

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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