Truist Financial Lowers Brightstar Lottery (NYSE:BRSL) Price Target to $13.00

Key Points

• Truist Financial lowered its price target on Brightstar Lottery from $14 to $13 and kept a hold rating, implying about 20.9% upside from the current share price.
• Other analysts have also trimmed expectations, leaving Brightstar Lottery with a consensus hold rating and an average price target of $14.77.
• Brightstar Lottery recently traded around $10.76 and posted quarterly EPS of $0.14, missing estimates, while revenue rose only 0.7% year over year.

Brightstar Lottery (NYSE:BRSL - Get Free Report) had its price target reduced by investment analysts at Truist Financial from $14.00 to $13.00 in a report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 20.87% from the company's current price.

A number of other research firms have also weighed in on BRSL. Susquehanna lowered their price target on shares of Brightstar Lottery from $21.00 to $15.00 and set a "positive" rating for the company in a report on Thursday, May 14th. Jefferies Financial Group decreased their price objective on shares of Brightstar Lottery from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, April 6th. Stifel Nicolaus restated a "buy" rating and set a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday, May 13th. Weiss Ratings restated a "sell (d+)" rating on shares of Brightstar Lottery in a research note on Friday, July 10th. Finally, Argus lowered Brightstar Lottery from a "buy" rating to a "hold" rating in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.77.

Brightstar Lottery Price Performance

Brightstar Lottery stock traded up $0.01 during midday trading on Monday, hitting $10.76. 37,092 shares of the company were exchanged, compared to its average volume of 1,496,410. The company has a market cap of $2.01 billion, a P/E ratio of 12.95 and a beta of 1.00. Brightstar Lottery has a fifty-two week low of $10.42 and a fifty-two week high of $18.57. The stock has a fifty day simple moving average of $11.17. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 1.79.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). Brightstar Lottery had a net margin of 6.24% and a return on equity of 10.58%. The company's quarterly revenue was up .7% compared to the same quarter last year. On average, analysts expect that Brightstar Lottery will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. bought a new position in Brightstar Lottery during the 4th quarter worth approximately $31,000. NewEdge Advisors LLC bought a new position in Brightstar Lottery during the fourth quarter worth $32,000. Gamco Investors INC. ET AL boosted its holdings in Brightstar Lottery by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 277,075 shares of the company's stock worth $3,530,000 after purchasing an additional 2,200 shares during the period. Knott David M Jr acquired a new position in Brightstar Lottery in the first quarter worth $32,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Brightstar Lottery by 2.1% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 132,704 shares of the company's stock valued at $1,691,000 after purchasing an additional 2,750 shares during the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

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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