International Game Technology (NYSE:IGT) upgraded to “Buy” by StockNews.com

International Games Technology (NYSE: IGT – Get a rating) has been updated by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

IGT has been the subject of a number of other research reports. Truist Financial lowered its price target on shares of International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday, July 20 report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 report. Finally, Stifel Nicolaus lowered his price target on shares of International Game Technology from $36.00 to $26.00 in a Monday, August 1 report. Seven investment analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, International Game Technology currently has an average rating of “Buy” and a consensus target price of $35.00.

International trade in gaming technology up 5.7%

IGT was up $0.99 during Monday’s trading, hitting $18.40. 1,655,111 shares of the stock have been traded, compared to its average volume of 1,794,466. The stock’s 50-day moving average is $18.35 and its 200-day moving average is $19.81 . International Game Technology has a 12-month low of $15.01 and a 12-month high of $32.95. The stock has a market capitalization of $3.75 billion, a PE ratio of 23.90 and a beta of 1.78. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt ratio of 3.53.

International Games Technology (NYSE: IGT – Get an assessment) last reported its quarterly earnings data on Tuesday, August 2. The company reported earnings per share of $0.57 for the quarter, beating the consensus estimate of $0.31 by $0.26. International Game Technology achieved a net margin of 3.87% and a return on equity of 14.56%. The company posted revenue of $1.02 billion for the quarter, compared to analysts’ estimates of $1.02 billion. Stock analysts expect International Game Technology to post earnings per share of 0.82 for the current year.

Institutional trade in international gaming technology

A number of hedge funds have recently bought and sold shares of the company. Wiley Bros. Aintree Capital LLC purchased a new stake in International Game Technology during the third quarter at a value of $197,000. Amundi increased its position in International Game Technology by 8.8% in the second quarter. Amundi now owns 918,023 shares in the company worth $15,487,000 after purchasing an additional 73,932 shares in the last quarter. Verition Fund Management LLC purchased a new stake in International Game Technology in the second quarter valued at $248,000. Garde Capital Inc. acquired a new stake in International Game Technology in the second quarter at a value of $256,000. Finally, ExodusPoint Capital Management LP acquired a new stake in International Game Technology in the second quarter at a value of $1,377,000. 44.33% of the shares are currently held by institutional investors.

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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Analyst Recommendations for International Gaming Technology (NYSE: IGT)

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