International Game Technology (NYSE:IGT) update at StockNews.com


International game technology (New York Stock Exchange: IGTGet a rating) has been updated by the investment analysts of StockNews.com from a “hold” rating to a “buy” rating in a research note released Wednesday to investors.

IGT has been the subject of several other research reports. Credit Suisse Group raised its price target on International Game Technology shares from $59.00 to $63.00 and gave the stock an “outperform” rating in a Wednesday, March 2 research note . Deutsche Bank Aktiengesellschaft lowered its price target on shares of International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research note. Finally, Jefferies Financial Group upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the stock from $30.00 to $26.00 in a research note of Thursday, May 12. Six investment analysts have rated the stock with a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.80.

Shares of International Gaming Technology Stock opened at $18.85 on Wednesday. The company has a market capitalization of $3.84 billion, a PE ratio of 8.27 and a beta of 1.93. The company’s 50-day simple moving average is $21.64 and its 200-day simple moving average is $24.95. 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 1-year minimum of $17.27 and a 1-year maximum of $32.95.

International game technology (New York Stock Exchange: IGTGet a rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.39 for the quarter, beating consensus analyst estimates of $0.34 by $0.05. The company posted revenue of $1.05 billion for the quarter, against analyst estimates of $1.04 billion. International Game Technology achieved a net margin of 11.37% and a return on equity of 3.35%. The company’s revenue for the quarter increased 3.5% year over year. In the same quarter a year earlier, the company posted EPS of $0.38. On average, stock analysts predict that International Game Technology will post 1.4 earnings per share for the current year.

Major investors have recently changed their positions in the company. Parkside Financial Bank & Trust increased its stake in shares of International Game Technology by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company valued at $29,000 after purchasing an additional 534 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of International Game Technology in the first quarter, valued at approximately $34,000. Steward Partners Investment Advisory LLC increased its stake in shares of International Game Technology by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after purchasing an additional 600 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of International Game Technology in the first quarter, valued at approximately $49,000. Finally, Dark Forest Capital Management LP bought a new position in shares of International Game Technology in the third quarter, valued at around $54,000. Institutional investors hold 44.33% of the company’s shares.

International Gaming Technology Company Profile (Get a rating)

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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