International Game Technology (NYSE:IGT) Upgraded by Wall Street Zen to "Hold" Rating

International Game Technology (NYSE:IGT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

Other analysts have also issued research reports about the stock. Truist Financial decreased their target price on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna restated a "positive" rating and set a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Argus lowered shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

International Game Technology Stock Up 0.1%

IGT stock opened at $15.02 on Friday. International Game Technology has a 12 month low of $13.81 and a 12 month high of $24.13. The company's 50 day simple moving average is $15.78 and its 200-day simple moving average is $16.71. The firm has a market capitalization of $3.03 billion, a PE ratio of 10.43 and a beta of 1.53. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.48 and a quick ratio of 2.43.

International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 7.86% and a net margin of 11.46%. The firm had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same quarter last year, the business posted $0.46 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. Equities analysts expect that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Game Technology

A number of hedge funds have recently made changes to their positions in IGT. Lazard Asset Management LLC raised its stake in shares of International Game Technology by 13.1% in the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock valued at $192,978,000 after acquiring an additional 1,267,625 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock valued at $151,495,000 after acquiring an additional 787,543 shares during the period. Solel Partners LP raised its stake in shares of International Game Technology by 14.6% in the 4th quarter. Solel Partners LP now owns 3,058,150 shares of the company's stock valued at $54,007,000 after acquiring an additional 390,726 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of International Game Technology by 3.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company's stock valued at $49,152,000 after acquiring an additional 98,502 shares during the period. Finally, Brown Advisory Inc. purchased a new position in shares of International Game Technology in the 1st quarter valued at $30,407,000. 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.

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