StockNews.com Upgrades International Game Technology (NYSE:IGT) to “Buy”

International Game Technology (NYSE:IGT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Other equities research analysts also recently issued reports about the company. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th. Stifel Nicolaus raised their price objective on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.67.

International Game Technology Stock Performance

Shares of NYSE:IGT traded down $0.04 during midday trading on Friday, reaching $21.09. The company had a trading volume of 720,771 shares, compared to its average volume of 878,200. The stock has a market cap of $4.20 billion, a P/E ratio of 20.68 and a beta of 1.96. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. International Game Technology has a 52-week low of $18.90 and a 52-week high of $28.95. The company’s 50 day moving average price is $21.08 and its 200 day moving average price is $20.91.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in shares of International Game Technology in the 3rd quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Game Technology in the second quarter valued at approximately $31,000. Blue Trust Inc. purchased a new stake in shares of International Game Technology during the second quarter valued at approximately $44,000. Hexagon Capital Partners LLC boosted its stake in shares of International Game Technology by 1,633.6% in the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock valued at $45,000 after purchasing an additional 2,091 shares during the period. Finally, Industrial Alliance Investment Management Inc. grew its holdings in International Game Technology by 100.9% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after purchasing an additional 1,160 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Company Profile

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.