International Game Technology (NYSE:IGT) Earns “Buy” Rating from Stifel Nicolaus

International Game Technology (NYSE:IGT)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a note issued to investors on Wednesday,Benzinga reports. They currently have a $20.00 target price on the stock, down from their prior target price of $22.00. Stifel Nicolaus’ target price suggests a potential upside of 31.58% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Susquehanna reaffirmed a “positive” rating and issued a $25.00 price target (down from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Finally, Truist Financial cut their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and a consensus price target of $23.25.

International Game Technology Trading Up 1.4%

NYSE IGT opened at $15.20 on Wednesday. The company’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $17.45. International Game Technology has a 52 week low of $13.81 and a 52 week high of $24.13. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The stock has a market cap of $3.07 billion, a P/E ratio of 25.33 and a beta of 1.61.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, May 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that International Game Technology will post 1.24 EPS for the current fiscal year.

Institutional Trading of International Game Technology

Several institutional investors have recently added to or reduced their stakes in IGT. CWM LLC raised its holdings in International Game Technology by 61.1% in the first quarter. CWM LLC now owns 2,460 shares of the company’s stock valued at $40,000 after acquiring an additional 933 shares in the last quarter. Knott David M Jr bought a new stake in International Game Technology during the first quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology during the fourth quarter valued at $45,000. Sterling Capital Management LLC increased its stake in International Game Technology by 782.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Inlight Wealth Management LLC bought a new stake in International Game Technology during the first quarter valued at $85,000. 44.33% of the stock is owned by institutional investors and hedge funds.

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.