International Game Technology: S&P Intraday Laggard
NEW YORK (TheStreet) -- International Game Technology (IGT) was the worst-performing stock in the S&P 500 on Friday morning.
The S&P 500 was gaining more than 6 points, or 0.46%, to 1,335.
Shares of International Game Technology lost 3.17% to $14.64. The stock gained 14% on Thursday to close to $14.15 on news the company plans to buy back $1 billion of stock. On Friday, the stock received an upgrade to neutral from underperform from analysts at Bank of America Merrill Lynch.
"Our Underperform rating on IGT was largely predicated on poor capital allocation (Double Down and R&D investments) but we see signs of both improving capital allocation and improving capital discipline," Bank of America Merrill Lynch analysts wrote in a report Friday. "Together, these are likely to set a floor for shares, and with valuation still low, we upgrade from Underperform to Neutral."
International Game Technology trades at an estimated price-to-earnings ratio for next year of 16.99 times; the average among its peers is 16.72. Fourteen of the 23 analysts who cover International Game Technology rated it buy. Eight analysts gave the stock a hold rating and one rated it sell. The stock has fallen 14.94% year to date. -- Written by Alexandra Zendrian>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
