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

International Game Technology (NYSE:IGT) had its price objective reduced by analysts at Truist Financial from $28.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 26.61% from the company’s previous close.

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

International Game Technology Trading Up 0.1 %

IGT stock opened at $20.54 on Tuesday. The firm’s fifty day simple moving average is $22.80 and its two-hundred day simple moving average is $25.68. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 27.02 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. International Game Technology has a twelve month low of $19.54 and a twelve month high of $33.99.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.40 EPS. International Game Technology’s 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 year.

Institutional Trading of International Game Technology

A number of institutional investors have recently made changes to their positions in IGT. Wellington Management Group LLP boosted its stake in International Game Technology by 36.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,208,079 shares of the company’s stock worth $66,949,000 after purchasing an additional 594,552 shares in the last quarter. Invesco Ltd. lifted its stake in shares of International Game Technology by 2.3% during the third quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock worth $48,533,000 after buying an additional 35,911 shares during the period. Barclays PLC grew its holdings in shares of International Game Technology by 24.8% during the third quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after buying an additional 21,029 shares during the last quarter. Deutsche Bank AG increased its position in shares of International Game Technology by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 257,852 shares of the company’s stock valued at $7,818,000 after acquiring an additional 5,648 shares during the period. Finally, Allworth Financial LP raised its stake in International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after acquiring an additional 847 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

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.