Brightstar Lottery (NYSE:BRSL) Upgraded at Jefferies Financial Group

Key Points

• Jefferies upgraded Brightstar Lottery to “buy” from “hold” and set a $16 price target, implying approximately 41.5% upside from the stock’s $11.31 price.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, four a Hold, and one a Sell, producing an overall “Hold” consensus and an average target of $15.10.
• Brightstar reported quarterly earnings of $0.11 per share, exceeding the expected loss of $0.01, on $584 million in revenue; institutional investors currently own 44.33% of the company.

Brightstar Lottery (NYSE:BRSL - Get Free Report) was upgraded by research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $16.00 price objective on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 41.47% from the stock's current price.

Several other research analysts also recently weighed in on the stock. Susquehanna decreased their price target on shares of Brightstar Lottery from $21.00 to $15.00 and set a "positive" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings reissued a "sell (d+)" rating on shares of Brightstar Lottery in a research report on Friday, July 10th. Zacks Research upgraded Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a report on Wednesday, May 13th. Finally, Truist Financial lowered their target price on Brightstar Lottery from $14.00 to $13.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.10.

Brightstar Lottery Trading Up 0.5%

NYSE:BRSL opened at $11.31 on Thursday. Brightstar Lottery has a 12 month low of $9.90 and a 12 month high of $18.57. The company has a market cap of $2.11 billion, a P/E ratio of 8.70 and a beta of 1.03. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10. The stock has a 50 day moving average of $10.99.

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

Institutional Trading of Brightstar Lottery

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in shares of Brightstar Lottery during the fourth quarter valued at about $147,133,000. Brown Advisory Inc. purchased a new stake in shares of Brightstar Lottery in the fourth quarter worth about $44,820,000. State Street Corp bought a new position in Brightstar Lottery during the fourth quarter valued at approximately $29,860,000. Royce & Associates LP purchased a new position in Brightstar Lottery during the 4th quarter valued at approximately $24,887,000. Finally, Geode Capital Management LLC purchased a new position in Brightstar Lottery during the 4th quarter valued at approximately $19,684,000. 44.33% of the stock is currently owned by institutional investors.

About Brightstar Lottery

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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