Fintel reports that on May 30, 2024, Stifel upgraded their outlook for International Game Technology (NYSE:IGT) from Hold to Buy.
Analyst Price Forecast Suggests 37.93% Upside
As of May 22, 2024, the average one-year price target for International Game Technology is 27.10. The forecasts range from a low of 23.23 to a high of $34.65. The average price target represents an increase of 37.93% from its latest reported closing price of 19.65.
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The projected annual revenue for International Game Technology is 4,285MM, a decrease of 0.70%. The projected annual non-GAAP EPS is 1.70.
What is the Fund Sentiment?
There are 506 funds or institutions reporting positions in International Game Technology. This is an increase of 171 owner(s) or 51.04% in the last quarter. Average portfolio weight of all funds dedicated to IGT is 0.23%, an increase of 10.21%. Total shares owned by institutions increased in the last three months by 18.25% to 123,471K shares. 
The put/call ratio of IGT is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 13,872K shares representing 6.88% ownership of the company. In its prior filing, the firm reported owning 13,033K shares , representing an increase of 6.05%. The firm decreased its portfolio allocation in IGT by 90.83% over the last quarter.
Lazard Asset Management holds 10,752K shares representing 5.33% ownership of the company. In its prior filing, the firm reported owning 6,581K shares , representing an increase of 38.79%. The firm increased its portfolio allocation in IGT by 22.90% over the last quarter.
Massachusetts Financial Services holds 6,573K shares representing 3.26% ownership of the company. In its prior filing, the firm reported owning 6,712K shares , representing a decrease of 2.11%. The firm decreased its portfolio allocation in IGT by 88.46% over the last quarter.
Tpg Gp A holds 6,297K shares representing 3.12% ownership of the company. In its prior filing, the firm reported owning 9,025K shares , representing a decrease of 43.33%. The firm decreased its portfolio allocation in IGT by 31.76% over the last quarter.
Neuberger Berman Group holds 5,644K shares representing 2.80% ownership of the company. In its prior filing, the firm reported owning 4,137K shares , representing an increase of 26.70%. The firm increased its portfolio allocation in IGT by 6.44% over the last quarter.
International Game Technology Background Information
(This description is provided by the company.)
IGT is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, its solutions deliver unrivaled gaming experiences that engage players and drive growth. The Company has a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and creates value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees.
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This story originally appeared on Fintel.
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