International Game Technology (NYSE: IGT) PT raised to $ 36.00 at Credit Suisse Group

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International Gaming Technology (NYSE: IGT) saw its price target raised by analysts at Credit Suisse Group from $ 35 to $ 36.00 in a research note released Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential rise of 60.43% from the company’s current price.

Actions of International stock of gaming technology open at $ 22.44 Thursday. The stock has a market cap of $ 4.60 billion, a PE ratio of 172.62 and a beta of 2.21. The company has a fifty-day simple moving average of $ 20.30 and a 200-day simple moving average of $ 20.46. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt ratio of 3.61. International Game Technology has a 12-month low of $ 7.68 and a 12-month high of $ 26.43.

International Game Technology (NYSE: IGT) last released its results on Tuesday, August 3. The company announced ($ 0.48) EPS for the quarter, missing the Thomson Reuters consensus estimate of $ 0.23 ($ 0.71). The company posted revenue of $ 1.04 billion in the quarter, compared to analysts’ estimates of $ 926.69 million. International Game Technology recorded a negative return on equity of 3.61% and a net margin of 0.71%. The company’s quarterly revenue increased 73.5% year-over-year. During the same period last year, the company made EPS ($ 1.37). Analysts expect International Game Technology to post 0.06 BPA for the current fiscal year.

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Several large investors have recently changed their positions in IGT. Massachusetts Financial Services Co. MA acquired a new equity interest in International Game Technology in the second quarter valued at approximately $ 65,595,000. Vaughan Nelson Investment Management LP increased its position in International Game Technology shares by 89.5% in the first quarter. Vaughan Nelson Investment Management LP now owns 4,002,669 shares of the company valued at $ 64,242,000 after purchasing an additional 1,890,759 shares in the last quarter. BlackRock Inc. increased its position in International Game Technology shares by 16.6% in the second quarter. BlackRock Inc. now owns 10,954,614 shares of the company valued at $ 262,471,000 after purchasing an additional 1,562,197 shares during the last quarter. FMR LLC increased its position in International Game Technology shares by 222.8% in the first quarter. FMR LLC now owns 2,057,614 shares of the company valued at $ 26,729,000 after purchasing an additional 1,420,212 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd. Zurich acquired a new equity stake in International Game Technology in the first quarter valued at approximately $ 22,557,000. 42.78% of the shares are held by institutional investors.

About International Game Technology

International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.

Feature article: Gross domestic product (GDP)

Analyst Recommendations for International Game Technology (NYSE: IGT)

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