International Game Technology Stock Gaps Down On Today's Open (IGT)

NEW YORK ( TheStreet) -- Shares of International Game Technology (NYSE: IGT) were gapping down Wednesday morning with an open price 11.6% lower than Tuesday's closing price. The stock closed at $14.69 Tuesday and opened today's trading at $12.99.

The average volume for International Game Technology has been 3.7 million shares per day over the past 30 days. International Game Technology has a market cap of $4.51 billion and is part of the technology sector and computer software & services industry. Shares are down 14.6% year to date as of the close of trading on Tuesday.

International Game Technology engages in the design, development, manufacture, and marketing of electronic gaming equipment and systems worldwide. The company has a P/E ratio of 16.9, below the average computer software & services industry P/E ratio of 18.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates International Game Technology as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full International Game Technology Ratings Report.

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