International Game Technology (NYSE:IGT) Rating Lowered to Buy at StockNews.com

International Game Technology (NYSE:IGT) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

IGT has been the subject of several other research reports. B. Riley began coverage on shares of International Game Technology in a report on Friday, April 5th. They set a “buy” rating and a $30.00 price target for the company. Argus lowered their price target on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Susquehanna lowered their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a report on Thursday, May 16th. Truist Financial lowered their price target on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Finally, Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $24.00 to $26.00 in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

International Game Technology Stock Down 0.9 %

NYSE:IGT opened at $19.98 on Friday. The firm’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $23.01. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. International Game Technology has a one year low of $18.90 and a one year high of $33.99. The company has a market cap of $3.98 billion, a PE ratio of 19.03 and a beta of 1.98.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.29 by $0.17. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that International Game Technology will post 1.53 earnings per share for the current year.

Institutional Trading of International Game Technology

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of International Game Technology by 10.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock valued at $231,000 after acquiring an additional 805 shares in the last quarter. SG Americas Securities LLC grew its position in International Game Technology by 10.8% in the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after purchasing an additional 836 shares during the period. Venturi Wealth Management LLC acquired a new stake in International Game Technology in the 4th quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. grew its position in International Game Technology by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after purchasing an additional 973 shares during the period. Finally, Highlander Capital Management LLC acquired a new stake in International Game Technology in the 4th quarter valued at $27,000. Institutional investors own 44.33% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.