International Game Technology (NYSE:IGT) Stock Rating Upgraded by Argus

International Game Technology (NYSE:IGT) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, AnalystRatings.net reports. The firm currently has a $21.00 target price on the stock. Argus’ price target points to a potential upside of 17.19% from the stock’s current price.

A number of other research analysts also recently commented on IGT. Deutsche Bank Aktiengesellschaft increased their price target on shares of International Game Technology from $16.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 7th. Macquarie raised their price objective on shares of International Game Technology from $15.00 to $16.00 in a research note on Thursday, September 24th. ValuEngine downgraded shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 13th. Credit Suisse Group raised shares of International Game Technology from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $5.00 to $14.00 in a research note on Thursday, November 19th. Finally, Union Gaming Research raised shares of International Game Technology from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, November 13th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $16.17.

Shares of International Game Technology stock opened at $17.92 on Tuesday. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -4.46 and a beta of 2.25. The business has a 50-day moving average price of $15.47 and a 200-day moving average price of $11.84. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 4.55. International Game Technology has a twelve month low of $3.59 and a twelve month high of $18.77.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Monday, November 16th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.42. International Game Technology had a negative net margin of 21.60% and a positive return on equity of 0.59%. The firm had revenue of $981.51 million during the quarter, compared to the consensus estimate of $801.03 million. During the same quarter last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities analysts expect that International Game Technology will post -0.09 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of IGT. Van ECK Associates Corp lifted its stake in International Game Technology by 2.1% in the third quarter. Van ECK Associates Corp now owns 31,463 shares of the company’s stock worth $350,000 after acquiring an additional 660 shares during the last quarter. Platform Technology Partners lifted its position in shares of International Game Technology by 62.4% during the 3rd quarter. Platform Technology Partners now owns 16,657 shares of the company’s stock valued at $185,000 after acquiring an additional 6,400 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of International Game Technology during the 3rd quarter valued at approximately $558,000. Neo Ivy Capital Management acquired a new stake in shares of International Game Technology during the 3rd quarter valued at approximately $70,000. Finally, California State Teachers Retirement System lifted its position in shares of International Game Technology by 0.9% during the 3rd quarter. California State Teachers Retirement System now owns 150,327 shares of the company’s stock valued at $1,673,000 after acquiring an additional 1,275 shares during the period. 39.67% of the stock is currently owned by hedge funds and other institutional investors.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy. It designs, sells, and operates 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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Analyst Recommendations for International Game Technology (NYSE:IGT)

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