Everi Holdings Inc (EVRI) Stock Rating Upgraded by Zacks Investment Research
Everi Holdings Inc (NYSE:EVRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $4.50 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 6.13% from the company’s previous close.
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. “
A number of other research firms have also commented on EVRI. Telsey Advisory Group raised Everi Holdings from a “market perform” rating to an “outperform” rating and increased their price target for the company from $2.50 to $6.00 in a research report on Wednesday, March 15th. Craig Hallum raised Everi Holdings from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, March 15th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $4.45.
Shares of Everi Holdings (NYSE:EVRI) opened at 4.24 on Friday. Everi Holdings has a 12 month low of $1.13 and a 12 month high of $4.47. The stock has a 50 day moving average of $3.24 and a 200-day moving average of $2.58.
Everi Holdings (NYSE:EVRI) last released its quarterly earnings results on Tuesday, March 14th. The company reported ($3.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $3.10. The company earned $217.50 million during the quarter, compared to analysts’ expectations of $211.68 million. Everi Holdings had a negative net margin of 14.04% and a negative return on equity of 4.76%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. On average, analysts anticipate that Everi Holdings will post ($0.45) earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Everi Holdings by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,234 shares of the company’s stock worth $7,086,000 after buying an additional 281,429 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Everi Holdings by 5.1% in the third quarter. Eagle Asset Management Inc. now owns 2,957,834 shares of the company’s stock worth $7,305,000 after buying an additional 143,413 shares during the last quarter. Sound Point Capital Management LP bought a new stake in Everi Holdings during the fourth quarter worth approximately $4,132,000. Renaissance Technologies LLC raised its stake in Everi Holdings by 25.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,443,300 shares of the company’s stock worth $3,132,000 after buying an additional 297,100 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in Everi Holdings by 42.1% in the fourth quarter. Putnam Investments LLC now owns 762,414 shares of the company’s stock worth $1,654,000 after buying an additional 225,700 shares during the last quarter. 57.81% of the stock is owned by institutional investors and hedge funds.
About Everi Holdings
Everi Holdings Inc, formerly Global Cash Access Holdings, Inc, is a holding company. The Company operates through subsidiaries, including Everi Games Holding Inc and Everi Payments Inc It provides video and mechanical reel gaming content and technology solutions, integrated gaming payments solutions, and compliance and efficiency software.
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