Wall Street Zen Upgrades International Game Technology (NYSE:IGT) to Hold

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

Several other equities research analysts have also weighed in on IGT. Truist Financial lowered their price objective on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna reiterated a "positive" rating and issued a $25.00 price target (down from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Finally, Argus cut shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

International Game Technology Stock Performance

Shares of NYSE:IGT traded down $0.12 during trading on Friday, hitting $15.52. 1,193,421 shares of the stock were exchanged, compared to its average volume of 1,332,990. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 10.78 and a beta of 1.53. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.43 and a current ratio of 2.48. International Game Technology has a 1-year low of $13.81 and a 1-year high of $24.13. The company's fifty day simple moving average is $15.76 and its 200-day simple moving average is $16.65.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $583.00 million during the quarter, compared to analyst estimates of $630.30 million. International Game Technology had a net margin of 11.46% and a return on equity of 7.86%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. Sell-side analysts expect that International Game Technology will post 1.24 EPS for the current fiscal year.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in IGT. Brown Advisory Inc. bought a new stake in International Game Technology during the 1st quarter worth about $30,407,000. Nuveen LLC acquired a new position in shares of International Game Technology during the first quarter worth approximately $28,228,000. Norges Bank bought a new stake in shares of International Game Technology during the fourth quarter valued at approximately $25,616,000. Lazard Asset Management LLC increased its holdings in shares of International Game Technology by 13.1% in the fourth quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock valued at $192,978,000 after purchasing an additional 1,267,625 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of International Game Technology in the fourth quarter valued at approximately $19,453,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

About International Game Technology

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.