PlayAGS (AGS) Receives “Buy” Rating from SunTrust Banks

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SunTrust Banks reaffirmed their buy rating on shares of PlayAGS (NYSE:AGS) in a report issued on Monday morning. They currently have a $33.00 price objective on the stock. SunTrust Banks also issued estimates for PlayAGS’s Q2 2019 earnings at $0.14 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.15 EPS and FY2020 earnings at $1.02 EPS.

Other equities analysts also recently issued research reports about the stock. Telsey Advisory Group began coverage on shares of PlayAGS in a research note on Thursday, August 23rd. They issued an outperform rating and a $37.00 price target for the company. Jefferies Financial Group upgraded shares of PlayAGS from a hold rating to a buy rating and boosted their price target for the stock from $26.00 to $36.00 in a research note on Friday, August 10th. Zacks Investment Research downgraded shares of PlayAGS from a buy rating to a hold rating in a research note on Wednesday, August 8th. Credit Suisse Group began coverage on shares of PlayAGS in a research note on Tuesday, August 14th. They issued an outperform rating and a $35.00 price target for the company. Finally, ValuEngine raised shares of PlayAGS from a hold rating to a buy rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $33.38.

NYSE:AGS opened at $21.84 on Monday. The firm has a market capitalization of $746.71 million and a price-to-earnings ratio of -11.26. The company has a debt-to-equity ratio of 3.37, a current ratio of 2.94 and a quick ratio of 2.16. PlayAGS has a 52 week low of $16.66 and a 52 week high of $32.80.

PlayAGS (NYSE:AGS) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The business had revenue of $71.80 million during the quarter, compared to the consensus estimate of $69.06 million. PlayAGS had a negative net margin of 7.02% and a negative return on equity of 10.81%. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, sell-side analysts anticipate that PlayAGS will post -0.41 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new stake in shares of PlayAGS during the 3rd quarter worth $461,000. Castleark Management LLC lifted its position in shares of PlayAGS by 16.1% during the 3rd quarter. Castleark Management LLC now owns 237,555 shares of the company’s stock worth $7,001,000 after purchasing an additional 33,005 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of PlayAGS during the 3rd quarter worth $221,000. Laurion Capital Management LP purchased a new stake in shares of PlayAGS during the 3rd quarter worth $1,195,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of PlayAGS during the 3rd quarter worth $4,173,000.

PlayAGS Company Profile

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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