Bank of America Corporation Raises International Game Technology (IGT) Price Target to $32.00

International Game Technology (NYSE:IGT) had its price target hoisted by Bank of America Corporation from $30.00 to $32.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on IGT. BidaskClub raised International Game Technology from a sell rating to a hold rating in a report on Monday, July 24th. ValuEngine lowered International Game Technology from a buy rating to a hold rating in a report on Tuesday, August 22nd. Finally, Deutsche Bank AG initiated coverage on International Game Technology in a report on Tuesday, September 26th. They issued a buy rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $28.63.

Shares of International Game Technology (NYSE:IGT) opened at $28.54 on Wednesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.71. The firm has a market capitalization of $5,830.00 and a price-to-earnings ratio of 15.96. International Game Technology has a twelve month low of $17.25 and a twelve month high of $32.07.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a positive return on equity of 10.04% and a negative net margin of 18.62%. International Game Technology’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. equities research analysts forecast that International Game Technology will post 1.12 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.80 annualized dividend and a dividend yield of 2.80%.

Large investors have recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in shares of International Game Technology in the second quarter valued at $286,000. California State Teachers Retirement System lifted its position in International Game Technology by 3.4% during the second quarter. California State Teachers Retirement System now owns 199,045 shares of the company’s stock worth $3,643,000 after buying an additional 6,537 shares during the period. Marshall Wace North America L.P. purchased a new position in International Game Technology during the second quarter worth about $4,357,000. Cipher Capital LP lifted its position in International Game Technology by 169.7% during the second quarter. Cipher Capital LP now owns 153,253 shares of the company’s stock worth $2,805,000 after buying an additional 96,439 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in International Game Technology during the second quarter worth about $4,136,000. Institutional investors and hedge funds own 38.05% of the company’s stock.

International Game Technology Company Profile

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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