International Game Technology (NYSE:IGT – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
IGT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of International Game Technology from $39.00 to $37.00 in a report on Wednesday, May 11th. Credit Suisse Group boosted their target price on International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. Finally, Jefferies Financial Group upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and decreased their price target for the stock from $30.00 to $26.00 in a research report on Thursday, May 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $40.80.
Shares of IGT traded up $0.10 during trading hours on Tuesday, hitting $22.07. The stock had a trading volume of 1,105,610 shares, compared to its average volume of 1,941,948. International Game Technology has a 12-month low of $17.27 and a 12-month high of $32.95. The firm has a market cap of $4.50 billion, a P/E ratio of 9.68 and a beta of 1.93. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43. The company’s fifty day simple moving average is $22.19 and its 200 day simple moving average is $25.24.
International Game Technology (NYSE:IGT – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that International Game Technology will post 1.4 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in International Game Technology by 62.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company’s stock valued at $199,001,000 after buying an additional 2,639,187 shares during the period. Broad Peak Investment Holdings Ltd. bought a new stake in shares of International Game Technology during the fourth quarter worth $56,895,000. Bank of New York Mellon Corp increased its position in shares of International Game Technology by 62.2% during the first quarter. Bank of New York Mellon Corp now owns 5,025,282 shares of the company’s stock worth $124,024,000 after acquiring an additional 1,927,848 shares in the last quarter. Boston Partners increased its position in shares of International Game Technology by 36.9% during the first quarter. Boston Partners now owns 6,662,138 shares of the company’s stock worth $161,326,000 after acquiring an additional 1,796,129 shares in the last quarter. Finally, Norges Bank bought a new position in International Game Technology in the fourth quarter valued at $47,458,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.
International Game Technology Company Profile (Get Rating)
International Game Technology PLC operates and provides gaming 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 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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