International Game Technology (IGT) Receives Average Rating of “Hold” from Brokerages

International Game Technology (NYSE:IGT) has earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.13.

A number of equities analysts recently weighed in on the company. Deutsche Bank AG assumed coverage on International Game Technology in a report on Tuesday, September 26th. They set a “buy” rating and a $30.00 price objective on the stock. Bank of America Corporation raised International Game Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $30.00 in a report on Wednesday, September 20th. ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. grew its position in International Game Technology by 1.0% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,950 shares of the company’s stock worth $425,000 after acquiring an additional 170 shares during the last quarter. Amalgamated Bank grew its position in International Game Technology by 3.4% during the 1st quarter. Amalgamated Bank now owns 13,516 shares of the company’s stock worth $320,000 after acquiring an additional 441 shares during the last quarter. Northern Trust Corp grew its position in International Game Technology by 0.3% during the 2nd quarter. Northern Trust Corp now owns 287,236 shares of the company’s stock worth $5,257,000 after acquiring an additional 887 shares during the last quarter. PNC Financial Services Group Inc. grew its position in International Game Technology by 38.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after acquiring an additional 1,398 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in International Game Technology by 14.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after acquiring an additional 1,445 shares during the last quarter. Institutional investors and hedge funds own 39.01% of the company’s stock.

International Game Technology (NYSE IGT) traded down 0.12% during mid-day trading on Friday, hitting $24.61. The stock had a trading volume of 3,115,707 shares. The company’s 50 day moving average price is $22.02 and its 200 day moving average price is $20.78. The firm’s market cap is $4.99 billion. International Game Technology has a 52 week low of $17.25 and a 52 week high of $32.07.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.17). The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Analysts anticipate that International Game Technology will post $1.18 earnings per share for the current year.

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About International Game Technology

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

Analyst Recommendations for International Game Technology (NYSE:IGT)

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