International Game Technology (IGT) PT Lowered to $29.00

International Game Technology (NYSE:IGT) had its target price reduced by Deutsche Bank from $35.00 to $29.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective points to a potential upside of 60.31% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group decreased their price objective on International Game Technology from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Societe Generale started coverage on International Game Technology in a report on Wednesday, October 17th. They issued a “buy” rating and a $20.50 price objective for the company. ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. SunTrust Banks started coverage on International Game Technology in a report on Monday, October 1st. They issued a “hold” rating and a $21.00 price objective for the company. Finally, Credit Suisse Group started coverage on International Game Technology in a report on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.36.

Shares of IGT stock traded down $0.59 on Thursday, hitting $18.09. The company had a trading volume of 2,730,696 shares, compared to its average volume of 4,968,795. The stock has a market cap of $3.69 billion, a PE ratio of 12.74 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 2.95. International Game Technology has a twelve month low of $15.01 and a twelve month high of $31.00.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Sell-side analysts anticipate that International Game Technology will post 1.14 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC acquired a new position in International Game Technology in the 3rd quarter worth about $453,000. Reilly Financial Advisors LLC raised its holdings in International Game Technology by 2,035.6% in the 3rd quarter. Reilly Financial Advisors LLC now owns 6,471 shares of the company’s stock worth $128,000 after purchasing an additional 6,168 shares during the period. Hilltop Holdings Inc. acquired a new position in International Game Technology in the 2nd quarter worth about $234,000. Centaurus Financial Inc. acquired a new position in International Game Technology in the 2nd quarter worth about $239,000. Finally, Peavine Capital LLC acquired a new position in International Game Technology in the 2nd quarter worth about $264,000. 47.35% of the stock is owned by institutional investors.

About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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