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International Game Technology (NYSE:IGT) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.

International Game Technology (NYSE:IGT) traded down 0.23% on Monday, hitting $17.11. The stock had a trading volume of 2,874,670 shares. International Game Technology has a 52-week low of $12.14 and a 52-week high of $21.20. The stock has a 50-day moving average of $15.14 and a 200-day moving average of $14.66. The company has a market cap of $4.226 billion and a price-to-earnings ratio of 18.83. International Game Technology also was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 11,721,837 shares, a drop of 19.6% from the June 13th total of 14,578,488 shares. Based on an average trading volume of 9,603,630 shares, the short-interest ratio is presently 1.2 days. Currently, 4.8% of the shares of the company are short sold.

International Game Technology (NYSE:IGT) last released its earnings data on Tuesday, April 22nd. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.01. The company had revenue of $512.80 million for the quarter, compared to the consensus estimate of $498.14 million. During the same quarter last year, the company posted $0.36 earnings per share. International Game Technology’s revenue was down 14.5% compared to the same quarter last year. Analysts expect that International Game Technology will post $1.03 EPS for the current fiscal year.

IGT has been the subject of a number of other recent research reports. Analysts at Sidoti downgraded shares of International Game Technology from a “buy” rating to a “neutral” rating in a research note on Thursday. Separately, analysts at Gabelli downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, analysts at Goldman Sachs upgraded shares of International Game Technology from a “sell” rating to a “neutral” rating in a research note on Thursday. They now have a $16.50 price target on the stock, up previously from $12.00. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.41.

International Game Technology (NYSE: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.

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