StockNews.com Upgrades International Game Technology (NYSE:IGT) to Buy

StockNews.com upgraded shares of International Game Technology (NYSE:IGT) from a hold rating to a buy rating in a report released on Friday morning.

Several other research analysts have also recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Stifel Nicolaus increased their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, International Game Technology presently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Up 1.4 %

Shares of IGT stock opened at $21.39 on Friday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. The firm’s 50-day moving average is $21.08 and its 200-day moving average is $20.91. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 20.98 and a beta of 1.96. International Game Technology has a 52-week low of $18.90 and a 52-week high of $28.82.

Institutional Trading of International Game Technology

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of International Game Technology by 63.4% during the 1st quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after acquiring an additional 4,170,813 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in International Game Technology by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock valued at $158,431,000 after buying an additional 1,169,999 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in International Game Technology by 75.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after buying an additional 995,570 shares in the last quarter. Solel Partners LP acquired a new stake in International Game Technology in the second quarter valued at approximately $43,478,000. Finally, Long Pond Capital LP acquired a new stake in International Game Technology in the second quarter valued at approximately $32,053,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

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.