Everi (EVRI) Upgraded by Zacks Investment Research to “Buy”

Everi (NYSE:EVRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The firm currently has a $11.00 price target on the credit services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.33% from the company’s current price.

According to Zacks, “Everi Holdings Inc. is a holding company which operates through subsidiaries, Global Cash Access, Inc. and Multimedia Games Holding Company, Inc. The Company’s segments include Games and Payments. Global Cash Access, Inc. provides integrated gaming payments solutions, video and mechanical reel gaming content and technology solutions, as well as compliance and software. Multimedia Games Holding Company, Inc., designs, manufactures and supplies gaming machines and systems. Everi Holdings Inc., formerly known as Global Cash Access Holdings, Inc., is headquartered in Las Vegas, United States. “

A number of other equities analysts have also issued reports on the company. ValuEngine raised Everi from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. SunTrust Banks began coverage on Everi in a report on Monday, February 11th. They issued a “buy” rating and a $9.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.30.

EVRI stock traded down $0.02 on Thursday, reaching $9.97. The company’s stock had a trading volume of 1,233,900 shares, compared to its average volume of 945,563. Everi has a 52 week low of $4.76 and a 52 week high of $10.69. The firm has a market capitalization of $701.09 million, a price-to-earnings ratio of 99.70, a price-to-earnings-growth ratio of 2.81 and a beta of 1.89.

Everi (NYSE:EVRI) last issued its quarterly earnings data on Tuesday, March 12th. The credit services provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Everi had a negative return on equity of 6.27% and a net margin of 2.63%. The business had revenue of $119.50 million during the quarter, compared to analyst estimates of $113.37 million. On average, sell-side analysts forecast that Everi will post 0.18 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Brinker Capital Inc. bought a new position in Everi during the 4th quarter valued at $52,000. HRT Financial LLC bought a new position in Everi during the 4th quarter valued at $58,000. LPL Financial LLC bought a new position in Everi during the 4th quarter valued at $60,000. Legal & General Group Plc boosted its stake in Everi by 27.9% during the 4th quarter. Legal & General Group Plc now owns 12,040 shares of the credit services provider’s stock valued at $62,000 after purchasing an additional 2,625 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Everi by 41.1% during the 4th quarter. WINTON GROUP Ltd now owns 15,093 shares of the credit services provider’s stock valued at $78,000 after purchasing an additional 4,400 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Everi

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 FinTech. 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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