International Game Technology (NYSE:IGT) Upgraded to "Buy" at StockNews.com

International Game Technology (NYSE:IGT - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus increased their price target on International Game Technology from $26.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. B. Riley reiterated a "buy" rating and set a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, International Game Technology has an average rating of "Moderate Buy" and a consensus price target of $28.67.

International Game Technology Price Performance

IGT traded down $0.05 on Friday, hitting $21.08. 720,771 shares of the company's stock were exchanged, compared to its average volume of 1,108,794. The firm has a 50-day moving average price of $21.08 and a 200-day moving average price of $20.91. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 20.67 and a beta of 1.96. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. International Game Technology has a fifty-two week low of $18.90 and a fifty-two week high of $28.95.

Institutional Trading of International Game Technology

Several institutional investors have recently added to or reduced their stakes in IGT. Signaturefd LLC purchased a new stake in shares of International Game Technology in the 3rd quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Game Technology in the second quarter valued at approximately $31,000. Blue Trust Inc. acquired a new position in shares of International Game Technology in the second quarter valued at approximately $44,000. Hexagon Capital Partners LLC increased its stake in International Game Technology by 1,633.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company's stock worth $45,000 after buying an additional 2,091 shares during the period. Finally, CWM LLC boosted its position in International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company's stock valued at $47,000 after buying an additional 1,417 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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.

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