International Game Technology (IGT) PT Raised to $34.00

International Game Technology (NYSE:IGT) had its price target hoisted by analysts at Deutsche Bank AG to $34.00 in a research note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Deutsche Bank AG’s price objective points to a potential upside of 19.26% from the company’s current price.

Several other analysts have also issued reports on the stock. BidaskClub upgraded shares of International Game Technology from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation upgraded shares of International Game Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $30.00 in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.63.

International Game Technology (IGT) opened at $28.51 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.70 and a debt-to-equity ratio of 2.66. International Game Technology has a twelve month low of $17.25 and a twelve month high of $29.36. The firm has a market cap of $5,770.00 and a P/E ratio of 16.59.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.16. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. analysts anticipate that International Game Technology will post 1.13 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its position in International Game Technology by 101.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after buying an additional 2,911 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of International Game Technology by 38.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after purchasing an additional 1,398 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of International Game Technology by 14.4% in the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after purchasing an additional 1,445 shares during the period. Sigma Planning Corp bought a new position in shares of International Game Technology in the third quarter worth approximately $214,000. Finally, Cadence Capital Management LLC boosted its position in shares of International Game Technology by 18.2% in the second quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after purchasing an additional 1,948 shares during the period. Institutional investors own 39.03% 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.

Analyst Recommendations for International Game Technology (NYSE:IGT)

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