Truist Financial Lowers International Game Technology (NYSE:IGT) Price Target to $26.00

International Game Technology (NYSE:IGT) had its price target lowered by Truist Financial from $28.00 to $26.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

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

International Game Technology Stock Up 0.2 %

International Game Technology stock opened at $20.31 on Tuesday. The company has a 50-day simple moving average of $22.56 and a 200-day simple moving average of $25.57. The firm has a market capitalization of $4.04 billion, a P/E ratio of 26.72 and a beta of 1.94. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26. International Game Technology has a one year low of $19.54 and a one year high of $33.99.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts expect that International Game Technology will post 1.47 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, March 25th. International Game Technology’s payout ratio is 105.26%.

Institutional Investors Weigh In On International Game Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank lifted its holdings in International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after acquiring an additional 489 shares during the last quarter. CWM LLC lifted its holdings in International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after acquiring an additional 561 shares during the last quarter. Amalgamated Bank lifted its stake in International Game Technology by 4.2% during the third quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock valued at $508,000 after buying an additional 682 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in International Game Technology by 10.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock valued at $231,000 after buying an additional 805 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in International Game Technology by 770.0% during the third quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares in the last quarter. 44.33% of the stock is 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.