Sterne Agee Increases Bally Technologies Price Target to $88.00 (BYI)
Equities researchers at Sterne Agee increased their target price on shares of Bally Technologies (NYSE:BYI) from $83.00 to $88.00 in a research report issued on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Sterne Agee’s price target points to a potential upside of 18.39% from the company’s current price.
In other Bally Technologies news, Director Richard Haddrill unloaded 20,000 shares of Bally Technologies stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $74.66, for a total transaction of $1,493,200.00. Following the completion of the transaction, the director now directly owns 311,817 shares of the company’s stock, valued at approximately $23,280,257. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Bally Technologies (NYSE:BYI) from $55.00 to $73.00 in a research note to investors on Friday, August 16th. They now have a “hold” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Bally Technologies (NYSE:BYI) from $75.00 to $85.00 in a research note to investors on Friday, August 16th. They now have an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Bally Technologies (NYSE:BYI) from $85.00 to $87.00 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock. One investment 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’s stock. Bally Technologies currently has an average rating of “Hold” and an average price target of $79.64.
Bally Technologies (NYSE:BYI) opened at 74.255 on Friday. Bally Technologies has a 1-year low of $43.16 and a 1-year high of $76.30. The stock’s 50-day moving average is $73.40 and its 200-day moving average is $60.7. The company has a market cap of $2.843 billion and a price-to-earnings ratio of 21.54.
Bally Technologies (NYSE:BYI) last announced its earnings results on Thursday, August 15th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.01. The company had revenue of $264.40 million for the quarter, compared to the consensus estimate of $256.36 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Bally Technologies will post $3.93 earnings per share for the current fiscal year.
Bally Technologies, Inc (NYSE:BYI) is a global gaming company, which designs, manufactures, operates, and distributes advanced technology-based gaming devices, systems, server-based solutions, custom mobile applications, and interactive applications.
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