International Game Technology (IGT) Lowered to Hold at ValuEngine

International Game Technology (NYSE:IGT) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd.

Several other equities analysts also recently commented on IGT. Bank of America raised shares of International Game Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $30.00 in a research report on Wednesday, September 20th. Deutsche Bank started coverage on shares of International Game Technology in a research report on Tuesday, September 26th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Argus raised shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.70.

International Game Technology (NYSE:IGT) traded up $0.39 during midday trading on Wednesday, hitting $28.03. 893,300 shares of the stock were exchanged, compared to its average volume of 1,166,500. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.84 and a quick ratio of 0.70. The firm has a market capitalization of $5,670.00 and a P/E ratio of -6.21. International Game Technology has a 1-year low of $17.25 and a 1-year high of $29.36.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 14th. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. analysts anticipate that International Game Technology will post 1.23 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in shares of International Game Technology by 101.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after buying an additional 2,911 shares during the period. Sigma Planning Corp bought a new stake in shares of International Game Technology in the third quarter valued at about $214,000. Pinnacle Associates Ltd. lifted its stake in shares of International Game Technology by 14.4% in the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock valued at $210,000 after buying an additional 1,445 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of International Game Technology by 3,030.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,644 shares of the company’s stock valued at $286,000 after buying an additional 11,272 shares during the period. Finally, Synovus Financial Corp bought a new stake in shares of International Game Technology in the third quarter valued at about $316,000. 40.64% of the stock is currently owned by institutional investors.

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International Game Technology Company Profile

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for International Game Technology (NYSE:IGT)

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