International Game Technology (NYSE:IGT) Raised to “Strong-Buy” at StockNews.com

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

IGT has been the subject of a number of other research reports. Truist Financial dropped 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 research note on Wednesday, May 15th. Susquehanna dropped 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 research note on Thursday, May 16th. Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. Argus dropped 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 research note on Wednesday, March 13th. Finally, B. Riley started coverage on shares of International Game Technology in a research note on Friday, April 5th. They set a “buy” rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

International Game Technology Stock Up 0.4 %

Shares of IGT traded up $0.07 during mid-day trading on Thursday, reaching $20.07. 1,345,561 shares of the stock traded hands, compared to its average volume of 1,156,314. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 19.11 and a beta of 1.94. The stock has a fifty day simple moving average of $20.29 and a 200 day simple moving average of $23.26. International Game Technology has a 12-month low of $18.90 and a 12-month high of $33.99. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.17. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Sell-side analysts expect that International Game Technology will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently modified their holdings of IGT. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of International Game Technology by 10.6% during the fourth 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 during the period. SG Americas Securities LLC boosted its holdings in shares of International Game Technology by 10.8% during the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after acquiring an additional 836 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of International Game Technology during the fourth quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of International Game Technology by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after acquiring an additional 973 shares during the period. Finally, Highlander Capital Management LLC acquired a new position in shares of International Game Technology during the fourth quarter valued at $27,000. Institutional investors and hedge funds 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 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.