Everi (EVRI) Receives New Coverage from Analysts at Raymond James

Analysts at Raymond James began coverage on shares of Everi (NYSE:EVRI) in a research note issued on Sunday. The brokerage set a “strong-buy” rating and a $6.52 price target on the credit services provider’s stock. Raymond James’ target price indicates a potential upside of 5.84% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus initiated coverage on shares of Everi in a research report on Thursday, September 13th. They set a “buy” rating and a $13.00 target price on the stock. ValuEngine downgraded shares of Everi from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, Zacks Investment Research downgraded shares of Everi from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Two equities research 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. The stock presently has an average rating of “Buy” and a consensus target price of $10.10.

Everi stock traded down $0.18 during trading hours on Friday, reaching $6.16. 658,070 shares of the company’s stock traded hands, compared to its average volume of 846,221. Everi has a fifty-two week low of $5.60 and a fifty-two week high of $9.82. The company has a market cap of $432.40 million, a PE ratio of -19.87, a PEG ratio of 5.36 and a beta of 1.45.

Everi (NYSE:EVRI) last released its earnings results on Tuesday, November 6th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $120.30 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts expect that Everi will post 0.06 earnings per share for the current fiscal year.

In other news, EVP Edward Adam Peters sold 66,251 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $9.06, for a total value of $600,234.06. Following the completion of the sale, the executive vice president now directly owns 60,388 shares of the company’s stock, valued at approximately $547,115.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd A. Valli sold 20,000 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $9.34, for a total value of $186,800.00. Following the completion of the sale, the chief accounting officer now directly owns 21,708 shares of the company’s stock, valued at $202,752.72. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Teton Advisors Inc. bought a new stake in Everi during the 2nd quarter worth approximately $108,000. Cowen Prime Services LLC bought a new position in shares of Everi during the 3rd quarter worth approximately $115,000. Virtu Financial LLC bought a new position in shares of Everi during the 3rd quarter worth approximately $209,000. Engine Capital Management LP bought a new position in shares of Everi during the 3rd quarter worth approximately $220,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of Everi by 87.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 31,818 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 14,864 shares in the last quarter. 88.84% of the stock is owned by institutional investors.

Everi Company Profile

Everi Holdings Inc provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and Payments. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment.

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