Susquehanna Trims International Game Technology (NYSE:IGT) Target Price to $48.00

Posted by MarketBeat News on Nov 3rd, 2023

International Game Technology (NYSE:IGT – Get Free Report) had its target price cut by Susquehanna from $50.00 to $48.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 76.50% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus cut their target price on International Game Technology from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial cut their target price on International Game Technology from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, StockNews.com assumed coverage on International Game Technology in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.33.

View Our Latest Analysis on International Game Technology

International Game Technology Price Performance

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IGT opened at $27.20 on Thursday. The stock has a fifty day simple moving average of $30.34 and a two-hundred day simple moving average of $29.95. The company has a current ratio of 1.13, a quick ratio of 0.99 and a debt-to-equity ratio of 2.76. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 56.66 and a beta of 2.00. International Game Technology has a 12-month low of $18.75 and a 12-month high of $33.99.

International Game Technology (NYSE:IGT – Get Free Report) last released its earnings results on Tuesday, October 31st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. International Game Technology had a return on equity of 19.39% and a net margin of 2.32%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Research analysts predict that International Game Technology will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Game Technology

Large investors have recently bought and sold shares of the business. Resources Management Corp CT ADV bought a new stake in shares of International Game Technology during the 1st quarter valued at about $96,000. CWM LLC grew its stake in shares of International Game Technology by 166.5% during the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after purchasing an additional 561 shares during the period. Allworth Financial LP lifted its position in shares of International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of International Game Technology during the 1st quarter valued at about $502,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in shares of International Game Technology during the 2nd quarter valued at about $37,000. 44.33% of the stock is currently owned by institutional investors.

About International Game Technology

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.