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

Everi (NYSE:EVRI) had its price target cut by Truist Financial from $13.00 to $11.00 in a research report report published on Tuesday, Benzinga reports. They currently have a hold rating on the credit services provider’s stock.

A number of other research firms also recently issued reports on EVRI. StockNews.com downgraded shares of Everi from a buy rating to a hold rating in a research note on Friday, March 1st. Jefferies Financial Group reaffirmed a hold rating and set a $13.00 target price (down from $18.00) on shares of Everi in a research note on Friday, March 1st. Finally, B. Riley initiated coverage on shares of Everi in a research note on Friday, April 5th. They set a neutral rating and a $12.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $15.20.

Everi Price Performance

Everi stock opened at $8.38 on Tuesday. The company’s 50 day simple moving average is $9.68 and its 200-day simple moving average is $10.53. The company has a market capitalization of $701.66 million, a price-to-earnings ratio of 9.31 and a beta of 2.05. Everi has a 1 year low of $8.21 and a 1 year high of $17.85. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.97 and a current ratio of 1.05.

Everi (NYSE:EVRI) last released its quarterly earnings results on Thursday, February 29th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.19). The company had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $200.99 million. Everi had a net margin of 10.40% and a return on equity of 42.93%. Everi’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities research analysts expect that Everi will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Everi

A number of large investors have recently modified their holdings of EVRI. SG Americas Securities LLC purchased a new stake in shares of Everi in the 3rd quarter valued at approximately $286,000. Exchange Traded Concepts LLC increased its position in shares of Everi by 280.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 31,541 shares of the credit services provider’s stock valued at $417,000 after purchasing an additional 23,249 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Everi in the 3rd quarter valued at approximately $126,000. Bank of New York Mellon Corp increased its position in shares of Everi by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 542,725 shares of the credit services provider’s stock valued at $7,175,000 after purchasing an additional 2,472 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Everi by 87.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,257 shares of the credit services provider’s stock valued at $849,000 after purchasing an additional 30,014 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.