BAC Stock: Bank of America Corporation Boosts International Game Technology Price Target to $32.00

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International Game Technology (NYSE:IGT) had its target price increased by analysts at Bank of America Corporation from $30.00 to $32.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. Bank of America Corporation’s price target suggests a potential upside of 16.58% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Deutsche Bank AG started coverage on International Game Technology in a research report on Tuesday, September 26th. They issued a “buy” rating and a $30.00 target price on the stock. ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. International Game Technology currently has a consensus rating of “Hold” and an average price target of $28.63.

International Game Technology (NYSE IGT) traded up $3.60 during trading on Wednesday, hitting $27.45. The stock had a trading volume of 8,356,300 shares, compared to its average volume of 1,523,535. The stock has a market capitalization of $4,827.96, a PE ratio of 13.48 and a beta of 1.45. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.71.

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 Zacks’ consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. equities analysts forecast that International Game Technology will post 1.12 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in IGT. Wellington Management Group LLP boosted its position in shares of International Game Technology by 45.2% in the 1st quarter. Wellington Management Group LLP now owns 14,499 shares of the company’s stock valued at $344,000 after purchasing an additional 4,512 shares during the period. Teachers Advisors LLC raised its stake in shares of International Game Technology by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 312,245 shares of the company’s stock worth $7,400,000 after buying an additional 8,793 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of International Game Technology by 38.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after buying an additional 1,398 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of International Game Technology by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,271,003 shares of the company’s stock worth $53,822,000 after buying an additional 86,552 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of International Game Technology by 2.5% during the 1st quarter. Geode Capital Management LLC now owns 263,355 shares of the company’s stock worth $6,240,000 after buying an additional 6,388 shares in the last quarter. 38.05% of the stock is owned by hedge funds and other institutional investors.

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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