International Game Technology (NYSE:IGT) Given New $26.00 Price Target at Truist Financial

International Game Technology (NYSE:IGT - Get Free Report) had its target price cut by research analysts at Truist Financial from $28.00 to $26.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential upside of 26.74% from the company's previous close.

A number of other brokerages have also issued reports on IGT. StockNews.com raised shares of International Game Technology from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 3rd. Jefferies Financial Group reaffirmed a "hold" rating and set a $29.00 target price (down previously from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. Stifel Nicolaus reaffirmed a "hold" rating and set a $26.00 target price (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Argus dropped their target price on shares of International Game Technology from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, March 13th. Finally, B. Riley initiated coverage on shares of International Game Technology in a research report on Friday, April 5th. They set a "buy" rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

International Game Technology Stock Performance

Shares of NYSE:IGT traded up $0.09 during trading on Tuesday, reaching $20.52. The stock had a trading volume of 1,284,419 shares, compared to its average volume of 1,219,313. International Game Technology has a 52 week low of $19.54 and a 52 week high of $33.99. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 27.05 and a beta of 1.94. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The stock has a fifty day simple moving average of $23.03 and a two-hundred day simple moving average of $25.79.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that International Game Technology will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Game Technology

Institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company's stock worth $27,000 after buying an additional 561 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of International Game Technology in the 4th quarter valued at $25,000. Huntington National Bank boosted its stake in shares of International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company's stock valued at $28,000 after purchasing an additional 489 shares in the last quarter. Allworth Financial LP boosted its stake in shares of International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company's stock valued at $29,000 after purchasing an additional 847 shares in the last quarter. Finally, Highlander Capital Management LLC acquired a new stake in shares of International Game Technology in the 4th quarter valued at $27,000. 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.