International Game Technology (NYSE:IGT – Get Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Several other brokerages have also weighed in on IGT. Truist Financial restated a “hold” rating and set a $30.00 target price (down from $32.00) on shares of International Game Technology in a research report on Friday. Jefferies Financial Group restated a “hold” rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. Finally, Susquehanna lowered their target price on shares of International Game Technology from $50.00 to $48.00 and set a “positive” rating on the stock in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.57.
International Game Technology Price Performance
IGT traded down $0.53 on Friday, hitting $26.64. 2,045,704 shares of the company were exchanged, compared to its average volume of 850,380. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.96 and a current ratio of 1.13. The business’s fifty day moving average is $26.30 and its 200 day moving average is $28.20. International Game Technology has a fifty-two week low of $22.30 and a fifty-two week high of $33.99. The firm has a market capitalization of $5.30 billion, a P/E ratio of 55.50 and a beta of 1.96.
Institutional Trading of International Game Technology
Several large investors have recently modified their holdings of IGT. Metropolitan Life Insurance Co NY lifted its stake in shares of International Game Technology by 8.8% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,936 shares of the company’s stock valued at $189,000 after buying an additional 481 shares during the period. Huntington National Bank raised its stake in International Game Technology by 113.2% during the third quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares during the period. Parkside Financial Bank & Trust raised its stake in International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares during the period. CWM LLC raised its stake in International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the period. Finally, Captrust Financial Advisors raised its stake in International Game Technology by 9.8% during the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company’s stock worth $122,000 after purchasing an additional 586 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.
About International Game Technology
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.