International Game Technology (NYSE:IGT) PT Lowered to $26.00 at Truist Financial

International Game Technology (NYSE:IGT) had its price target reduced by Truist Financial from $28.00 to $26.00 in a research note released on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also weighed in on the company. B. Riley started coverage on International Game Technology in a research note on Friday, April 5th. They issued a buy rating and a $30.00 target price for the company. StockNews.com upgraded International Game Technology from a buy rating to a strong-buy rating in a report on Wednesday, April 3rd. Argus reduced their price target on International Game Technology from $30.00 to $27.00 and set a buy rating on the stock in a report on Wednesday, March 13th. Stifel Nicolaus restated a hold rating and set a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Finally, Jefferies Financial Group restated a hold rating and set a $29.00 price target (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $31.00.

International Game Technology Price Performance

International Game Technology stock opened at $20.27 on Tuesday. International Game Technology has a 52 week low of $19.54 and a 52 week high of $33.99. The business has a 50-day simple moving average of $22.68 and a 200 day simple moving average of $25.64. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 26.66 and a beta of 1.94.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts forecast that International Game Technology will post 1.47 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were paid a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. International Game Technology’s payout ratio is currently 105.26%.

Hedge Funds Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in International Game Technology by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock valued at $313,368,000 after acquiring an additional 838,622 shares in the last quarter. Capital Research Global Investors increased its stake in International Game Technology by 102.1% in the 4th quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after buying an additional 3,129,559 shares in the last quarter. Parsifal Capital Management LP increased its stake in International Game Technology by 40.8% in the 4th quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after buying an additional 1,243,514 shares in the last quarter. Wellington Management Group LLP increased its stake in International Game Technology by 23.1% in the 4th quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock worth $74,495,000 after buying an additional 509,722 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in International Game Technology by 2.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,926,717 shares of the company’s stock worth $58,419,000 after buying an additional 42,552 shares in the last quarter. 44.33% of the stock is owned by 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.