International Game Technology (IGT) Given a $32.00 Price Target at Bank of America

International Game Technology (NYSE:IGT) has been given a $32.00 price objective by Bank of America in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Bank of America’s price objective points to a potential upside of 9.55% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Deutsche Bank raised their price target on International Game Technology to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Argus upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, November 29th. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group started coverage on International Game Technology in a research report on Tuesday, February 20th. They set a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.25.

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International Game Technology (NYSE:IGT) opened at $29.21 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.70 and a debt-to-equity ratio of 2.87. International Game Technology has a 1-year low of $17.25 and a 1-year high of $30.00. The firm has a market capitalization of $6,044.57, a PE ratio of -5.55 and a beta of 1.62.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.37). International Game Technology had a positive return on equity of 9.98% and a negative net margin of 21.64%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. International Game Technology’s revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that International Game Technology will post 1.36 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of IGT. TimesSquare Capital Management LLC bought a new stake in shares of International Game Technology in the 3rd quarter worth approximately $62,053,000. Point72 Asset Management L.P. grew its position in shares of International Game Technology by 40.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock worth $162,825,000 after buying an additional 1,908,038 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of International Game Technology by 62.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,790,800 shares of the company’s stock worth $127,004,000 after buying an additional 1,838,400 shares during the last quarter. Jennison Associates LLC grew its position in shares of International Game Technology by 114.4% in the 4th quarter. Jennison Associates LLC now owns 2,132,681 shares of the company’s stock worth $56,537,000 after buying an additional 1,138,049 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of International Game Technology during the third quarter valued at approximately $19,883,000. Institutional investors and hedge funds own 40.18% of the company’s stock.

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International Game Technology Company Profile

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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