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

International Game Technology (NYSE:IGT) had its price objective cut by 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 target price points to a potential upside of 14.16% from the company’s current price.

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

International Game Technology Price Performance

NYSE IGT opened at $17.52 on Tuesday. The company has a 50-day moving average price of $18.64 and a two-hundred day moving average price of $20.32. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 29.20 and a beta of 1.92. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. International Game Technology has a 52 week low of $16.83 and a 52 week high of $27.27.

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

Institutional Investors Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. raised its holdings in shares of International Game Technology by 0.3% in the 2nd quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock worth $4,137,000 after purchasing an additional 515 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of International Game Technology by 26.1% in the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after buying an additional 579 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of International Game Technology by 7.9% during the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after acquiring an additional 947 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of International Game Technology by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock valued at $317,000 after acquiring an additional 996 shares during the last quarter. Finally, Signaturefd LLC bought a new stake in shares of International Game Technology during the 3rd quarter worth $26,000. 44.33% of the stock is currently 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.