Stifel Nicolaus lowers International Gaming Tech (NYSE:IGT) price target to $26.00
International game technology (New York Stock Exchange: IGT – Get an assessment) saw its target price reduced by Stifel Nicolaus equity researchers from $36.00 to $26.00 in a report on Monday, Fly reports. Stifel Nicolaus’ price target indicates a potential upside of 26.71% from the stock’s previous close.
Other analysts have also recently released reports on the company. Truist Financial lowered its target price on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a Wednesday, July 20 research note. Deutsche Bank Aktiengesellschaft cut its price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating for the company in a Thursday, July 14 report. StockNews.com moved International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 report. Finally, Jefferies Financial Group moved International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the company from $30.00 to $26.00 in a Thursday 12 report. may. Seven research analysts rated the stock with a buy rating. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $35.83.
International gaming technology stock up 9.7%
Shares of New York Stock Exchange: IGT opened at $20.52 on Monday. International Game Technology has a 52 week low of $16.46 and a 52 week high of $32.95. The company has a debt ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43. The company’s fifty-day moving average is $19.44 and its 200-day moving average is $22.91. The company has a market capitalization of $4.18 billion, a PE ratio of 9.00 and a beta of 1.83.
International game technology (New York Stock Exchange: IGT – Get an assessment) last released its quarterly results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.39 for the quarter, beating the consensus estimate of $0.34 by $0.05. International Game Technology achieved a net margin of 11.37% and a return on equity of 3.35%. The company posted revenue of $1.05 billion for the quarter, versus a consensus estimate of $1.04 billion. During the same quarter of the previous year, the company achieved EPS of $0.38. The company’s quarterly revenue increased 3.5% year over year. Equity research analysts expect International Game Technology to post earnings per share of 1.21 for the current fiscal year.
Institutional trade in international gaming technology
Institutional investors have recently increased or reduced their stake in the stock. Parkside Financial Bank & Trust increased its position in International Game Technology shares by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company valued at $29,000 after buying an additional 534 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of International Game Technology by 100.0% in the 4th 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. Northwestern Mutual Wealth Management Co. bought a new position in International Game Technology during Q1 worth approximately $34,000. Brown Brothers Harriman & Co. bought a new stake in shares of International Game Technology in Q1 worth $49,000. Finally, National Bank of Canada FI purchased a new stake in shares of International Game Technology in the fourth quarter at a value of $60,000. Hedge funds and other institutional investors hold 44.33% of the company’s shares.
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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