Truist Financial Issues Pessimistic Forecast for International Game Technology (NYSE:IGT) Stock Price

International Game Technology (NYSE:IGT) had its price objective dropped by analysts at Truist Financial from $23.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 15.61% from the company’s previous close.

Separately, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

International Game Technology Trading Down 0.6 %

Shares of IGT stock opened at $17.30 on Tuesday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a fifty-two week low of $16.83 and a fifty-two week high of $27.27. The company has a market cap of $3.44 billion, a PE ratio of 28.83 and a beta of 1.92. The stock’s fifty day moving average price is $18.77 and its two-hundred day moving average price is $20.36.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The company had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Equities analysts predict that International Game Technology will post 1 EPS for the current fiscal year.

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC acquired a new stake in shares of International Game Technology during the third quarter worth $26,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Game Technology during the 2nd quarter worth about $31,000. Hexagon Capital Partners LLC raised its position in shares of International Game Technology by 26.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock worth $60,000 after acquiring an additional 579 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of International Game Technology in the 2nd quarter valued at about $107,000. Finally, Quarry LP boosted its position in shares of International Game Technology by 99.1% during the 2nd quarter. Quarry LP now owns 5,460 shares of the company’s stock valued at $112,000 after purchasing an additional 2,717 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

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.