Deutsche Bank Aktiengesellschaft lowers International Gaming Technology (NYSE:IGT) price target to $30.00
International Games Technology (NYSE: IGT – Get a rating) had its target price reduced by Deutsche Bank Aktiengesellschaft research analysts from $35.00 to $30.00 in a research note released Wednesday to investors, Fly reports. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 46.20% from the current share price.
Other equity research analysts have also recently published research reports on the company. Stifel Nicolaus cut his price target on International Game Technology from $36.00 to $26.00 in a report on Monday. Jefferies Financial Group downgraded International Game Technology from a “hold” rating to a “buy” rating and cut its stock price target from $30.00 to $26.00 in a Thursday, May 12 report . StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 report. Finally, Truist Financial cut its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday, July 20 report. Seven investment analysts rated the stock with a buy rating. Based on data from MarketBeat, International Game Technology has a consensus rating of “Buy” and an average target price of $35.00.
International trade in gaming technology up 9.7%
Shares of IGT opened at $20.52 on Wednesday. The company has a debt ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43. International Game Technology has a fifty-two week low of $16.46 and a fifty-two week high of $32.95. The company has a market capitalization of $4.18 billion, a PE ratio of 9.00 and a beta of 1.83. The stock’s fifty-day moving average price is $19.44 and its two-hundred-day moving average price is $22.91.
International Games Technology (NYSE: IGT – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.39 for the quarter, beating the consensus estimate of $0.34 by $0.05. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company posted revenue of $1.05 billion for the quarter, versus a consensus estimate of $1.04 billion. In the same quarter last year, the company posted EPS of $0.38. International Game Technology’s revenue for the quarter increased 3.5% year on year. Stock analysts predict that International Game Technology will post EPS of 1.21 for the current fiscal year.
Institutional entries and exits
Several hedge funds have recently changed their positions in IGT. National Bank of Canada FI bought a new position in shares of International Game Technology in the 4th quarter for a value of approximately $60,000. Allspring Global Investments Holdings LLC bought a new position in shares of International Game Technology in Q4 for a value of approximately $1,040,000. Sigma Planning Corp bought a new position in shares of International Game Technology in the 4th quarter for a value of approximately $211,000. Advisor Group Holdings Inc. increased its position in International Game Technology by 158.2% in Q4. Advisor Group Holdings Inc. now owns 38,884 shares of the company valued at $1,124,000 after purchasing an additional 23,827 shares in the last quarter. Finally, Broad Peak Investment Holdings Ltd. acquired a new stake in International Game Technology in Q4, valued at approximately $56,895,000. 44.33% of the shares are held by institutional investors.
International Gaming Technology Company Profile
International Game Technology PLC operates and provides game 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 the 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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