International Game Technology (NYSE:IGT) Upgraded to Buy by Argus

International Game Technology (NYSE:IGT) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports. The firm presently has a $21.00 price objective on the stock. Argus’ price objective indicates a potential upside of 17.19% from the stock’s previous close.

A number of other equities research analysts have also weighed in on IGT. BidaskClub upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. Credit Suisse Group upgraded International Game Technology from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $5.00 to $14.00 in a research report on Thursday, November 19th. Macquarie lifted their target price on International Game Technology from $15.00 to $16.00 in a research report on Thursday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on International Game Technology from $16.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Finally, ValuEngine lowered International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 13th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.17.

Shares of NYSE IGT opened at $17.92 on Tuesday. International Game Technology has a fifty-two week low of $3.59 and a fifty-two week high of $18.77. The business has a 50 day moving average price of $15.47 and a two-hundred day moving average price of $11.84. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 4.55. The firm has a market cap of $3.66 billion, a PE ratio of -4.46 and a beta of 2.25.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Monday, November 16th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.42. International Game Technology had a positive return on equity of 0.59% and a negative net margin of 21.60%. The firm had revenue of $981.51 million during the quarter, compared to analyst estimates of $801.03 million. During the same quarter last year, the firm earned $0.21 EPS. International Game Technology’s quarterly revenue was down 14.9% on a year-over-year basis. On average, analysts anticipate that International Game Technology will post -0.09 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in International Game Technology by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 31,463 shares of the company’s stock valued at $350,000 after purchasing an additional 660 shares during the period. Platform Technology Partners boosted its position in International Game Technology by 62.4% during the 3rd quarter. Platform Technology Partners now owns 16,657 shares of the company’s stock valued at $185,000 after purchasing an additional 6,400 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in International Game Technology during the 3rd quarter valued at approximately $558,000. Neo Ivy Capital Management acquired a new position in International Game Technology during the 3rd quarter valued at approximately $70,000. Finally, California State Teachers Retirement System boosted its position in International Game Technology by 0.9% during the 3rd quarter. California State Teachers Retirement System now owns 150,327 shares of the company’s stock valued at $1,673,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds own 39.67% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy. It designs, sells, and operates 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.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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