International Game Technology (NYSE:IGT) Downgraded by StockNews.com

International Game Technology (NYSE:IGTGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus lowered their target price on shares of International Game Technology from $36.00 to $26.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Game Technology from $35.00 to $30.00 in a research note on Wednesday. Truist Financial dropped their price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Finally, Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $30.00 to $26.00 in a research report on Thursday, May 12th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

International Game Technology Stock Performance

NYSE IGT traded down $0.34 during trading hours on Thursday, hitting $20.54. The company had a trading volume of 1,563,521 shares, compared to its average volume of 1,940,772. The business has a 50 day moving average of $19.44 and a 200-day moving average of $22.85. The company has a debt-to-equity ratio of 3.53, a quick ratio of 1.33 and a current ratio of 1.56. International Game Technology has a 1-year low of $16.46 and a 1-year high of $32.95. The company has a market cap of $4.18 billion, a PE ratio of 26.68 and a beta of 1.83.

International Game Technology (NYSE:IGTGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. International Game Technology had a return on equity of 14.56% and a net margin of 3.87%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. As a group, equities research analysts expect that International Game Technology will post 1.2 EPS for the current year.

Institutional Trading of International Game Technology

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of International Game Technology in the 2nd quarter valued at about $397,000. Envestnet Asset Management Inc. lifted its position in shares of International Game Technology by 1.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 54,380 shares of the company’s stock valued at $1,009,000 after acquiring an additional 689 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of International Game Technology by 76.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 424,522 shares of the company’s stock worth $8,541,000 after acquiring an additional 184,190 shares in the last quarter. Comerica Bank grew its holdings in shares of International Game Technology by 23.1% in the 2nd quarter. Comerica Bank now owns 27,933 shares of the company’s stock worth $532,000 after acquiring an additional 5,245 shares during the period. Finally, Victory Capital Management Inc. increased its stake in International Game Technology by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 888,501 shares of the company’s stock valued at $16,491,000 after purchasing an additional 102,837 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Company Profile

(Get Rating)

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.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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