Truist Financial Cuts International Game Technology (NYSE:IGT) Price Target to $26.00

International Game Technology (NYSE:IGT) had its price objective lowered by equities research analysts at Truist Financial from $28.00 to $26.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 26.46% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Argus decreased their target price on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. B. Riley started coverage on shares of International Game Technology in a report on Friday, April 5th. They set a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus reissued a “hold” rating and issued a $26.00 price objective (down from $30.00) on shares of International Game Technology in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group restated a “hold” rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a research note on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

International Game Technology Stock Performance

Shares of NYSE:IGT traded up $0.13 during trading on Tuesday, reaching $20.56. 531,214 shares of the stock were exchanged, compared to its average volume of 1,209,546. The firm has a market cap of $4.09 billion, a PE ratio of 27.03 and a beta of 1.94. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. International Game Technology has a 12 month low of $19.54 and a 12 month high of $33.99. The stock has a 50-day moving average price of $23.03 and a 200-day moving average price of $25.79.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts expect that International Game Technology will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On International Game Technology

Hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in International Game Technology in the 4th quarter worth about $25,000. CWM LLC grew its holdings in shares of International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the last quarter. Highlander Capital Management LLC acquired a new position in shares of International Game Technology in the fourth quarter valued at approximately $27,000. Huntington National Bank raised its holdings in International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after buying an additional 489 shares during the last quarter. Finally, Allworth Financial LP boosted its position in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after buying an additional 847 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and 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, as well as iLottery solutions and services.