Zacks Investment Research Upgrades Everi (NYSE:EVRI) to “Buy”

Zacks Investment Research upgraded shares of Everi (NYSE:EVRI) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. They currently have $13.00 price objective on the credit services provider’s stock.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

According to Zacks, “Everi Holdings Inc. is a holding company which operates through subsidiaries, Global Cash Access, Inc. and Multimedia Games Holding Company, Inc. The Company’s segments include Games and Payments. Global Cash Access, Inc. provides integrated gaming payments solutions, video and mechanical reel gaming content and technology solutions, as well as compliance and software. Multimedia Games Holding Company, Inc., designs, manufactures and supplies gaming machines and systems. Everi Holdings Inc., formerly known as Global Cash Access Holdings, Inc., is headquartered in Las Vegas, United States. “

A number of other equities research analysts have also recently issued reports on EVRI. TheStreet cut shares of Everi from a c rating to a d+ rating in a report on Monday, August 26th. Macquarie initiated coverage on shares of Everi in a report on Thursday, September 26th. They issued an outperform rating and a $12.00 price objective for the company. Raymond James set a $14.00 price objective on shares of Everi and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, ValuEngine cut shares of Everi from a buy rating to a hold rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Everi currently has a consensus rating of Buy and a consensus price target of $12.60.

Shares of Everi stock traded up $0.57 on Friday, hitting $12.57. 879,813 shares of the company traded hands, compared to its average volume of 842,037. The company has a 50-day moving average price of $9.29 and a 200 day moving average price of $10.37. Everi has a 12-month low of $4.76 and a 12-month high of $12.57. The company has a market cap of $750.70 million, a PE ratio of 125.70, a PEG ratio of 1.79 and a beta of 1.62.

Everi (NYSE:EVRI) last issued its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $134.60 million during the quarter, compared to analysts’ expectations of $129.30 million. Everi had a net margin of 4.90% and a negative return on equity of 18.45%. Everi’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Equities analysts expect that Everi will post 0.32 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in Everi by 139.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,297 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 1,339 shares during the last quarter. FMR LLC acquired a new position in Everi during the 1st quarter worth $29,000. Tower Research Capital LLC TRC lifted its position in Everi by 50.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,462 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 1,165 shares during the last quarter. Usca Ria LLC acquired a new position in Everi during the 3rd quarter worth $30,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Everi by 54.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,391 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 1,897 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Everi Company Profile

Everi Holdings Inc provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and FinTech. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment.

Recommended Story: Derivative

Get a free copy of the Zacks research report on Everi (EVRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

*