International Game Technology (NYSE:IGT – Get Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.
Several other equities research analysts have also recently commented on IGT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $29.00 target price (down from $36.00) on shares of International Game Technology in a research report on Thursday. Truist Financial dropped their price objective on shares of International Game Technology from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Susquehanna decreased their target price on shares of International Game Technology from $50.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, November 2nd. Finally, Stifel Nicolaus dropped their price target on International Game Technology from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.29.
International Game Technology Trading Down 3.2 %
NYSE:IGT traded down $0.84 during mid-day trading on Thursday, reaching $25.26. 2,453,977 shares of the company’s stock traded hands, compared to its average volume of 1,656,529. The company has a 50 day moving average price of $27.09 and a 200-day moving average price of $29.95. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 52.63 and a beta of 1.95. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 0.96. International Game Technology has a 12-month low of $22.30 and a 12-month high of $33.99.
International Game Technology (NYSE:IGT – Get Free Report) last posted its earnings results on Tuesday, October 31st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.13. International Game Technology had a return on equity of 19.39% and a net margin of 2.32%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that International Game Technology will post 1.81 earnings per share for the current year.
Institutional Trading of International Game Technology
A number of institutional investors and hedge funds have recently modified their holdings of IGT. Metropolitan Life Insurance Co NY increased its holdings in International Game Technology by 8.8% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,936 shares of the company’s stock worth $189,000 after buying an additional 481 shares in the last quarter. Huntington National Bank boosted its holdings in International Game Technology by 113.2% in the third quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares during the last quarter. Parkside Financial Bank & Trust grew its position in International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares during the period. CWM LLC boosted its stake in shares of International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after buying an additional 561 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of International Game Technology by 9.8% in the 2nd quarter. Captrust Financial Advisors now owns 6,582 shares of the company’s stock worth $122,000 after buying an additional 586 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.
International Game Technology Company Profile
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.