International Game Technology’s (IGT) Buy Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of International Game Technology (NYSE:IGT) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $37.00 price objective on the stock.

Several other equities research analysts also recently issued reports on IGT. StockNews.com downgraded International Game Technology from a strong-buy rating to a buy rating in a research note on Thursday, September 14th. Susquehanna upped their target price on International Game Technology from $49.00 to $54.00 and gave the stock a positive rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus upped their target price on International Game Technology from $32.00 to $38.00 in a research report on Monday, June 26th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $45.17.

International Game Technology Stock Up 0.0 %

Shares of International Game Technology stock opened at $32.58 on Friday. The stock has a 50-day moving average price of $32.13 and a 200 day moving average price of $29.09. The company has a market cap of $6.49 billion, a P/E ratio of 24.68 and a beta of 1.96. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.95. International Game Technology has a 1 year low of $15.01 and a 1 year high of $33.99.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. International Game Technology had a return on equity of 27.29% and a net margin of 6.30%. As a group, analysts expect that International Game Technology will post 1.77 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, August 14th. International Game Technology’s payout ratio is 60.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IGT. Parkside Financial Bank & Trust raised its stake in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after acquiring an additional 534 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of International Game Technology in the 2nd quarter valued at approximately $37,000. Penserra Capital Management LLC raised its stake in shares of International Game Technology by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock valued at $41,000 after acquiring an additional 518 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of International Game Technology in the 2nd quarter valued at approximately $45,000. Finally, Brown Brothers Harriman & Co. bought a new position in International Game Technology in the 1st quarter worth approximately $49,000. 44.33% of the stock is owned by institutional investors.

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.