Everi (NYSE:EVRI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Everi (NYSE:EVRI) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $11.00 target price on the credit services provider’s stock.

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. “

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus set a $15.00 target price on shares of Everi and gave the stock a buy rating in a research report on Wednesday, May 8th. Raymond James set a $14.00 target price on shares of Everi and gave the stock a buy rating in a research report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $12.25.

NYSE:EVRI traded down $0.17 on Thursday, reaching $9.52. 1,078,241 shares of the company’s stock were exchanged, compared to its average volume of 626,010. The firm has a market capitalization of $700.12 million, a price-to-earnings ratio of 95.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.51. Everi has a 52 week low of $4.76 and a 52 week high of $12.56. The company has a fifty day moving average of $11.78.

Everi (NYSE:EVRI) last issued its earnings results on Tuesday, August 6th. The credit services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $129.70 million during the quarter, compared to analyst estimates of $127.90 million. Everi had a net margin of 3.57% and a negative return on equity of 10.47%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. On average, research analysts forecast that Everi will post 0.29 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in EVRI. BlackRock Inc. boosted its position in shares of Everi by 2.5% in the fourth quarter. BlackRock Inc. now owns 4,785,799 shares of the credit services provider’s stock valued at $24,647,000 after acquiring an additional 115,016 shares during the period. Raymond James & Associates bought a new position in shares of Everi in the fourth quarter valued at approximately $387,000. Northern Trust Corp boosted its position in shares of Everi by 0.6% in the fourth quarter. Northern Trust Corp now owns 878,647 shares of the credit services provider’s stock valued at $4,525,000 after acquiring an additional 5,654 shares during the period. Geode Capital Management LLC boosted its position in shares of Everi by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 694,372 shares of the credit services provider’s stock valued at $3,576,000 after acquiring an additional 35,495 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Everi by 796.6% in the fourth quarter. Bank of America Corp DE now owns 332,335 shares of the credit services provider’s stock valued at $1,713,000 after acquiring an additional 295,268 shares during the period. Institutional investors own 96.36% of the company’s stock.

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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