Bank of America Corporation Increases International Game Technology (IGT) Price Target to $32.00
International Game Technology (NYSE:IGT) had its price target boosted by analysts at Bank of America Corporation from $30.00 to $32.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the stock. Bank of America Corporation’s price target would indicate a potential upside of 11.11% from the company’s previous close.
Several other equities research analysts have also issued reports on IGT. BidaskClub upgraded shares of International Game Technology from a “sell” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Deutsche Bank AG started coverage on shares of International Game Technology in a report on Tuesday, September 26th. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.63.
International Game Technology (NYSE IGT) traded up $1.04 during trading on Wednesday, hitting $28.80. 3,688,700 shares of the stock traded hands, compared to its average volume of 1,542,903. The company has a market cap of $5,830.00 and a price-to-earnings ratio of 16.14. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.66. International Game Technology has a 12-month low of $17.25 and a 12-month high of $32.07.
International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. equities analysts forecast that International Game Technology will post 1.13 EPS for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its holdings in International Game Technology by 40.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock valued at $162,825,000 after buying an additional 1,908,038 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in International Game Technology by 9.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,280,449 shares of the company’s stock valued at $78,332,000 after buying an additional 386,229 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in International Game Technology by 104.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,791,500 shares of the company’s stock valued at $51,084,000 after buying an additional 1,428,700 shares in the last quarter. Vanguard Group Inc. lifted its holdings in International Game Technology by 14.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,591,247 shares of the company’s stock valued at $47,420,000 after buying an additional 320,244 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in International Game Technology during the 3rd quarter valued at about $62,053,000. Institutional investors own 38.05% of the company’s stock.
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.
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