International Game Technology (NYSE:IGT) Stock Rating Upgraded by StockNews.com

International Game Technology (NYSE:IGT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Down 0.2 %

NYSE:IGT traded down $0.05 during mid-day trading on Friday, hitting $21.08. The stock had a trading volume of 720,771 shares, compared to its average volume of 1,108,794. International Game Technology has a twelve month low of $18.90 and a twelve month high of $28.95. The stock has a 50-day simple moving average of $21.08 and a two-hundred day simple moving average of $20.91. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $4.20 billion, a PE ratio of 20.67 and a beta of 1.96.

Institutional Trading of International Game Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in International Game Technology by 63.4% during the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after buying an additional 4,170,813 shares during the period. Solel Partners LP purchased a new stake in International Game Technology in the 2nd quarter valued at $43,478,000. Long Pond Capital LP acquired a new stake in International Game Technology during the 2nd quarter worth $32,053,000. Massachusetts Financial Services Co. MA grew its position in International Game Technology by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock worth $158,431,000 after purchasing an additional 1,169,999 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in International Game Technology by 75.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after purchasing an additional 995,570 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

About International Game Technology

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.