Zacks Investment Research Downgrades Playags (AGS) to Sell

Playags (NYSE:AGS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

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Several other analysts have also weighed in on the company. ValuEngine upgraded Playags from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Bank of America raised their price objective on Playags from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Deutsche Bank raised their price objective on Playags from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, March 15th. Finally, Stifel Nicolaus raised their price objective on Playags from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.75.

Playags opened at $28.31 on Wednesday, Marketbeat reports. The company has a current ratio of 2.91, a quick ratio of 2.08 and a debt-to-equity ratio of 3.37. The firm has a market cap of $976.92 million and a price-to-earnings ratio of -14.59. Playags has a fifty-two week low of $16.66 and a fifty-two week high of $28.49.

Playags (NYSE:AGS) last released its earnings results on Thursday, May 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $60.83 million. equities analysts expect that Playags will post -0.26 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AGS. Caledonia Private Investments Pty Ltd acquired a new stake in Playags in the first quarter valued at approximately $37,447,000. Park West Asset Management LLC purchased a new position in shares of Playags during the first quarter valued at approximately $18,514,000. BlackRock Inc. purchased a new position in shares of Playags during the first quarter valued at approximately $13,988,000. Principal Financial Group Inc. purchased a new position in shares of Playags during the first quarter valued at approximately $12,030,000. Finally, RWC Asset Management LLP purchased a new position in shares of Playags during the first quarter valued at approximately $7,052,000.

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.

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