International Game Technology’s (IGT) “Buy” Rating Reaffirmed at B. Riley

International Game Technology (NYSE:IGT)‘s stock had its “buy” rating reiterated by equities research analysts at B. Riley in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $30.00 target price on the stock. B. Riley’s price objective would suggest a potential upside of 27.66% from the stock’s current price.

Other research analysts have also issued research reports about the company. Susquehanna decreased their target price on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research report on Thursday, May 16th. Truist Financial decreased their target price on International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. StockNews.com downgraded International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus upgraded International Game Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Game Technology has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

International Game Technology Stock Up 16.6 %

Shares of IGT stock traded up $3.34 during trading hours on Friday, reaching $23.50. The company had a trading volume of 4,592,194 shares, compared to its average volume of 1,213,631. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 22.32 and a beta of 1.98. The business has a fifty day simple moving average of $20.39 and a 200-day simple moving average of $22.32. International Game Technology has a 12 month low of $18.90 and a 12 month high of $33.99.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. On average, research analysts expect that International Game Technology will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of International Game Technology

Several institutional investors have recently added to or reduced their stakes in IGT. Raymond James Financial Services Advisors Inc. raised its holdings in International Game Technology by 10.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock worth $231,000 after purchasing an additional 805 shares during the period. SG Americas Securities LLC boosted its position in shares of International Game Technology by 10.8% during the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after buying an additional 836 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of International Game Technology during the fourth quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of International Game Technology by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after buying an additional 973 shares during the period. Finally, Highlander Capital Management LLC purchased a new position in shares of International Game Technology during the fourth quarter valued at approximately $27,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and 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, as well as iLottery solutions and services.