International Game Technology (NYSE:IGT) Lowered to Sell Rating by Wall Street Zen

International Game Technology (NYSE:IGT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Susquehanna reiterated a “positive” rating and issued a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Argus cut shares of International Game Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday, May 21st. Finally, Truist Financial decreased their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.25.

International Game Technology Stock Down 3.2%

International Game Technology stock opened at $14.59 on Friday. International Game Technology has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a 50 day moving average price of $15.82 and a 200 day moving average price of $16.89. The company has a market capitalization of $2.95 billion, a PE ratio of 24.32 and a beta of 1.53.

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

Institutional Investors Weigh In On International Game Technology

Institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP purchased a new stake in shares of International Game Technology during the 4th quarter worth $291,000. Norges Bank purchased a new stake in shares of International Game Technology during the 4th quarter worth $25,616,000. Massachusetts Financial Services Co. MA lifted its position in shares of International Game Technology by 10.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after purchasing an additional 787,543 shares during the last quarter. Deutsche Bank AG lifted its position in shares of International Game Technology by 9.3% during the 4th quarter. Deutsche Bank AG now owns 446,731 shares of the company’s stock worth $7,889,000 after purchasing an additional 38,027 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of International Game Technology by 123.8% during the 4th quarter. Two Sigma Advisers LP now owns 47,900 shares of the company’s stock worth $846,000 after purchasing an additional 26,500 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

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.