This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to:

>To follow the writer on Twitter, go to Alexandra Zendrian.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
IGT $20.18 0.75%
AAPL $130.25 -1.80%
FB $80.74 -1.40%
GOOG $553.67 -0.31%
TSLA $230.44 -0.48%


DOW 18,110.14 +72.17 0.40%
S&P 500 2,114.76 +5.84 0.28%
NASDAQ 5,055.4220 -4.8240 -0.10%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs