Truist Financial Cuts Everi (NYSE:EVRI) Price Target to $11.00

Everi (NYSE:EVRI) had its price target reduced by stock analysts at Truist Financial from $13.00 to $11.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the credit services provider’s stock. Truist Financial’s price target indicates a potential upside of 28.35% from the stock’s current price.

A number of other equities analysts have also issued reports on EVRI. B. Riley started coverage on shares of Everi in a research report on Friday, April 5th. They set a “neutral” rating and a $12.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price objective (down from $18.00) on shares of Everi in a research report on Friday, March 1st. Finally, StockNews.com cut shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.20.

Everi Stock Performance

Shares of EVRI opened at $8.57 on Tuesday. The company has a market capitalization of $717.99 million, a price-to-earnings ratio of 9.52 and a beta of 2.05. Everi has a 52-week low of $8.41 and a 52-week high of $17.85. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 4.28. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $10.56.

Everi (NYSE:EVRI) last issued its earnings results on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.19). Everi had a net margin of 10.40% and a return on equity of 42.93%. The company had revenue of $192.00 million during the quarter, compared to analyst estimates of $200.99 million. During the same quarter in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Research analysts predict that Everi will post 0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Everi

A number of large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its position in Everi by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 49,848 shares of the credit services provider’s stock worth $562,000 after buying an additional 998 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in Everi by 12.3% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 11,462 shares of the credit services provider’s stock worth $152,000 after purchasing an additional 1,256 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Everi by 5.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 47,252 shares of the credit services provider’s stock valued at $625,000 after purchasing an additional 2,425 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Everi by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 542,725 shares of the credit services provider’s stock worth $7,175,000 after purchasing an additional 2,472 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Everi by 1.4% during the third quarter. Swiss National Bank now owns 195,800 shares of the credit services provider’s stock worth $2,588,000 after buying an additional 2,700 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

About Everi

Everi Holdings Inc develops and supplies entertaining game content, gaming machines, and gaming systems and services for land-based and iGaming operators in the United States, Canada, and internationally. It operates in Games and Financial Technology Solutions segments. The company offers classic mechanical reel games and video reel games, as well as TournEvent of Champions, a national slot tournament; and sells gaming equipment and player terminals, licenses, game content, and ancillary equipment, such as signage and lighting packages.