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

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

A number of other analysts have also issued reports on the company. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research report on Friday, July 26th. Susquehanna dropped their price objective on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. Finally, Stifel Nicolaus boosted their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Trading Up 0.7 %

Shares of NYSE IGT traded up $0.15 during mid-day trading on Friday, reaching $21.68. 494,420 shares of the company’s stock were exchanged, compared to its average volume of 1,169,617. The company’s 50-day moving average is $21.59 and its 200-day moving average is $21.28. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 20.65 and a beta of 1.96. International Game Technology has a 52-week low of $18.90 and a 52-week high of $33.48.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. International Game Technology’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts expect that International Game Technology will post 1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IGT. Oliver Lagore Vanvalin Investment Group acquired a new position in International Game Technology in the 2nd quarter valued at about $31,000. Blue Trust Inc. purchased a new stake in shares of International Game Technology during the second quarter worth approximately $44,000. General Partner Inc. acquired a new stake in shares of International Game Technology during the first quarter worth $45,000. Hexagon Capital Partners LLC grew its position in International Game Technology by 1,633.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock valued at $45,000 after buying an additional 2,091 shares during the last quarter. Finally, CWM LLC increased its stake in International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after buying an additional 1,417 shares during the period. 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.