International Game Technology (NYSE:IGT) upgraded to buy on StockNews.com


StockNews.com has updated the shares of International Game Technology (NYSE:IGT – Get a Rating) from a hold rating to a buy rating in a report released Tuesday morning.

Other stock analysts have also recently released reports on the stock. Stifel Nicolaus lowered his price target on shares of International Game Technology from $36.00 to $26.00 in a Monday, August 1 report. Truist Financial lowered its price target on shares of International Game Technology from $36.00 to $30.00 and set a buy rating on the stock in a Wednesday, July 20 report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 report. Finally, Jefferies Financial Group downgraded shares of International Game Technology from a hold rating to a buy rating and lowered its price target for the company from $30.00 to $26.00 in a report. Thursday, May 12. Seven research analysts rated the stock with a buy rating. According to data from MarketBeat.com, International Game Technology currently has an average buy rating and an average target price of $35.00.

International trade in gaming technology up 0.8%

International Game Technology stock opened at $22.09 on Tuesday. The company has a 50-day moving average price of $19.42 and a 200-day moving average price of $22.56. The company has a debt ratio of 3.53, a quick ratio of 1.44 and a current ratio of 1.56. International Game Technology has a 52 week low of $16.46 and a 52 week high of $32.95. The company has a market capitalization of $4.50 billion, a price-earnings ratio of 28.69 and a beta of 1.83.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30. Shareholders of record on Tuesday, August 16 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a yield of 3.62%. The ex-dividend date is Monday, August 15. International Game Technology’s dividend payout rate is 103.90%.

Institutional entries and exits

A number of institutional investors and hedge funds have been buying and selling shares of IGT recently. Parkside Financial Bank & Trust increased its position in International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company worth $29,000 after acquiring 534 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of International Game Technology during the first quarter, valued at approximately $34,000. Steward Partners Investment Advisory LLC increased its position in shares of International Game Technology by 100.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after buying an additional 600 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of International Game Technology during the first quarter, valued at approximately $49,000. Finally, Saltoro Capital LP acquired a new position in shares of International Game Technology during the second quarter worth approximately $55,000. Institutional investors and hedge funds own 44.33% of the company’s shares.

About International Gaming Technology

(Get a rating)

International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and the lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping and delivery services.

Further reading

Analyst Recommendations for International Gaming Technology (NYSE: IGT)



Get news and reviews for International Game Technology Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for International Game Technology and related companies with MarketBeat.com’s free daily email newsletter.