Everi (EVRI) Rating Increased to Buy at ValuEngine

Everi (NYSE:EVRI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Everi from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Tuesday. Raymond James assumed coverage on shares of Everi in a research note on Sunday, December 9th. They set a “strong-buy” rating and a $6.52 price objective for the company. Finally, Stifel Nicolaus assumed coverage on shares of Everi in a research note on Thursday, September 13th. They issued a “buy” rating and a $13.00 target price for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Everi currently has an average rating of “Buy” and an average price target of $9.55.

Shares of EVRI traded up $0.30 during mid-day trading on Friday, reaching $6.35. 1,441,041 shares of the company’s stock were exchanged, compared to its average volume of 919,675. Everi has a 52-week low of $4.76 and a 52-week high of $9.82. The stock has a market cap of $411.33 million, a price-to-earnings ratio of -20.48, a price-to-earnings-growth ratio of 4.04 and a beta of 1.61.

Everi (NYSE:EVRI) last issued its quarterly earnings data on Tuesday, November 6th. The credit services provider reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $120.30 million for the quarter, compared to analysts’ expectations of $113.53 million. During the same period last year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts expect that Everi will post 0.06 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in EVRI. Indaba Capital Management L.P. grew its stake in Everi by 52.4% in the 3rd quarter. Indaba Capital Management L.P. now owns 5,049,680 shares of the credit services provider’s stock worth $46,306,000 after acquiring an additional 1,735,163 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in Everi in the 3rd quarter worth approximately $12,580,000. Emerald Advisers Inc. PA purchased a new stake in Everi in the 3rd quarter worth approximately $8,933,000. Renaissance Technologies LLC grew its stake in Everi by 23.8% in the 3rd quarter. Renaissance Technologies LLC now owns 3,237,299 shares of the credit services provider’s stock worth $29,686,000 after acquiring an additional 621,899 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Everi in the 3rd quarter worth approximately $4,564,000. 88.79% of the stock is owned by hedge funds and other 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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