International Game Technology (NYSE:IGT) had its price target upped by research analysts at Bank of America Corporation from $30.00 to $32.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Bank of America Corporation’s price objective indicates a potential upside of 16.58% from the stock’s previous close.

Several other research firms also recently weighed in on IGT. Deutsche Bank AG assumed coverage on shares of International Game Technology in a report on Tuesday, September 26th. They set a “buy” rating and a $30.00 price objective on the stock. BidaskClub downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.63.

International Game Technology (IGT) traded up $3.60 on Wednesday, reaching $27.45. 8,356,300 shares of the company’s stock traded hands, compared to its average volume of 1,523,535. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 0.85. International Game Technology has a 1 year low of $17.25 and a 1 year high of $32.07. The firm has a market capitalization of $4,827.96, a P/E ratio of 13.48 and a beta of 1.45.

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, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. analysts forecast that International Game Technology will post 1.12 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of International Game Technology by 101.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after purchasing an additional 2,911 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 valued at $118,000 after purchasing an additional 1,398 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings 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 valued at $210,000 after purchasing an additional 1,445 shares during the last quarter. Sigma Planning Corp purchased a new stake in shares of International Game Technology in the third quarter valued at about $214,000. Finally, Cadence Capital Management LLC raised its holdings 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 valued at $232,000 after purchasing an additional 1,948 shares during the last quarter. Institutional investors own 38.05% 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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