Brightstar Lottery (NYSE:BRSL) Stock Price Target Lowered at Truist Financial

Key Points

• Truist Financial lowered Brightstar Lottery’s price target from $13 to $11 while maintaining a “hold” rating, implying approximately 16.6% upside from the stock’s $9.44 price.
• Analyst sentiment remains mixed, with four buy ratings, four hold ratings, and one sell rating; the overall consensus is “Hold” with an average price target of $14.77.
• Brightstar reported quarterly EPS of $0.11, beating the expected loss of $0.01, on revenue of $584 million. Institutional investors own 44.33% of the company, with BlackRock recently increasing its stake by 16.5%.

Brightstar Lottery (NYSE:BRSL - Get Free Report) had its price objective reduced by investment analysts at Truist Financial from $13.00 to $11.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential upside of 16.59% from the stock's current price.

A number of other brokerages have also issued reports on BRSL. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brightstar Lottery in a research report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Brightstar Lottery in a report on Wednesday, July 1st. They issued a "buy" rating and a $15.00 price target for the company. Jefferies Financial Group raised shares of Brightstar Lottery from a "hold" rating to a "buy" rating and increased their price target for the company from $12.00 to $16.00 in a report on Thursday, August 13th. Argus lowered shares of Brightstar Lottery from a "buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Wall Street Zen lowered shares of Brightstar Lottery from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $14.77.

Brightstar Lottery Stock Performance

BRSL traded up $0.01 during midday trading on Tuesday, reaching $9.44. The company's stock had a trading volume of 461,156 shares, compared to its average volume of 1,686,860. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16. The company has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $11.22. The stock has a market cap of $1.76 billion, a P/E ratio of 7.29, a PEG ratio of 3.88 and a beta of 1.18. Brightstar Lottery has a twelve month low of $9.35 and a twelve month high of $17.59.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. The company had revenue of $584.00 million during the quarter. Research analysts expect that Brightstar Lottery will post 0.35 earnings per share for the current year.

Institutional Trading of Brightstar Lottery

Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Brightstar Lottery by 16.5% during the second quarter. BlackRock Inc. now owns 6,785,934 shares of the company's stock worth $72,745,000 after buying an additional 961,306 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Brightstar Lottery by 17.3% in the 1st quarter. Bank of America Corp DE now owns 1,031,022 shares of the company's stock valued at $13,135,000 after buying an additional 151,839 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Brightstar Lottery in the 2nd quarter valued at $957,000. Sei Investments Co. raised its stake in shares of Brightstar Lottery by 101.8% in the 1st quarter. Sei Investments Co. now owns 322,220 shares of the company's stock valued at $4,105,000 after buying an additional 162,541 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Brightstar Lottery during the 4th quarter worth about $1,318,000. Institutional investors and hedge funds own 44.33% of the company's stock.

Brightstar Lottery Company Profile

Brightstar Lottery Corporation NYSE: BRSL is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology's former Global Lottery business.

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