International Game Technology (NYSE:IGT) Rating Lowered to “Hold” at StockNews.com

International Game Technology (NYSE:IGT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, Truist Financial cut their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

International Game Technology Stock Up 2.1 %

International Game Technology stock opened at $15.94 on Monday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 26.56 and a beta of 1.66. The company’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $18.22. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology has a fifty-two week low of $13.81 and a fifty-two week high of $24.13.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. During the same period in the prior year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Game Technology will post 1.24 EPS for the current year.

Institutional Trading of International Game Technology

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of International Game Technology in the fourth quarter valued at approximately $25,616,000. Massachusetts Financial Services Co. MA increased its stake in International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock valued at $151,495,000 after buying an additional 787,543 shares during the last quarter. Stifel Financial Corp lifted its position in International Game Technology by 22.2% during the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after buying an additional 10,193 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of International Game Technology by 283.6% during the 4th quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company’s stock worth $1,254,000 after buying an additional 52,516 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of International Game Technology by 49.1% in the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after acquiring an additional 96,019 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

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.