International Game Technology (IGT) Price Target Raised to $32.00 at Bank of America Corporation
International Game Technology (NYSE:IGT) had its price target lifted by Bank of America Corporation from $30.00 to $32.00 in a report published on Wednesday. Bank of America Corporation currently has a buy rating on the stock.
Several other brokerages also recently issued reports on IGT. Deutsche Bank AG began coverage on International Game Technology in a research report on Tuesday, September 26th. They issued a buy rating and a $30.00 price target on the stock. BidaskClub downgraded International Game Technology from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Finally, ValuEngine raised International Game Technology from a hold rating to a buy rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $28.63.
Shares of International Game Technology (IGT) traded up $1.04 during trading hours on Wednesday, hitting $28.80. The stock had a trading volume of 3,688,517 shares, compared to its average volume of 1,542,901. The firm has a market capitalization of $5,556.71, a P/E ratio of 15.96 and a beta of 1.45. International Game Technology has a 12 month low of $17.25 and a 12 month high of $32.07. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, November 27th. International Game Technology’s dividend payout ratio (DPR) is presently -17.78%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Americafirst Capital Management LLC acquired a new stake in International Game Technology during the third quarter worth about $822,000. Scoggin Management LP acquired a new stake in International Game Technology during the third quarter valued at approximately $12,275,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in International Game Technology by 3,030.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,644 shares of the company’s stock valued at $286,000 after purchasing an additional 11,272 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in International Game Technology by 40.4% during the third quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock valued at $162,825,000 after purchasing an additional 1,908,038 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its holdings in International Game Technology by 33.3% during the third quarter. Boothbay Fund Management LLC now owns 36,545 shares of the company’s stock valued at $897,000 after purchasing an additional 9,127 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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