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

International Game Technology (NYSE:IGT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Truist Financial dropped their price target on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

International Game Technology Trading Up 0.4 %

Shares of NYSE:IGT opened at $16.95 on Tuesday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 28.26 and a beta of 1.86. International Game Technology has a 1-year low of $16.42 and a 1-year high of $24.13. The company has a 50 day moving average price of $17.27 and a 200 day moving average price of $18.87.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The company had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. On average, research analysts anticipate that International Game Technology will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IGT. Victory Capital Management Inc. grew its stake in International Game Technology by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock valued at $317,000 after acquiring an additional 996 shares in the last quarter. Thrivent Financial for Lutherans grew its position in International Game Technology by 126.5% during the third quarter. Thrivent Financial for Lutherans now owns 45,960 shares of the company’s stock valued at $979,000 after purchasing an additional 25,665 shares in the last quarter. Intech Investment Management LLC acquired a new position in International Game Technology in the 3rd quarter valued at approximately $500,000. Charles Schwab Investment Management Inc. increased its stake in International Game Technology by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock valued at $24,116,000 after buying an additional 164,935 shares during the period. Finally, Cerity Partners LLC purchased a new stake in International Game Technology in the 3rd quarter worth approximately $676,000. 44.33% of the stock is owned by institutional investors and hedge funds.

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.