Truist Financial Lowers International Game Technology (NYSE:IGT) Price Target to $26.00

International Game Technology (NYSE:IGT) had its target price cut by stock analysts at Truist Financial from $28.00 to $26.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 26.46% from the company’s current price.

A number of other analysts have also recently weighed in on IGT. Stifel Nicolaus reaffirmed a “hold” rating and issued a $26.00 price objective (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $29.00 price target (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. B. Riley started coverage on International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. Argus cut their target price on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, StockNews.com raised International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

International Game Technology Stock Performance

IGT traded up $0.13 on Tuesday, hitting $20.56. 531,214 shares of the company’s stock were exchanged, compared to its average volume of 1,209,546. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. The stock has a fifty day moving average of $23.03 and a two-hundred day moving average of $25.79. International Game Technology has a twelve month low of $19.54 and a twelve month high of $33.99. The firm has a market cap of $4.09 billion, a PE ratio of 27.03 and a beta of 1.94.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, research 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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in International Game Technology during the fourth quarter valued at $25,000. CWM LLC raised its stake in shares of International Game Technology by 166.5% during the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares in the last quarter. Highlander Capital Management LLC acquired a new stake in shares of International Game Technology during the 4th quarter valued at about $27,000. Huntington National Bank grew 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 buying an additional 489 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in International Game Technology by 770.0% in the third quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after buying an additional 847 shares during the last quarter. 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.