Stifel Nicolaus Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW) had its price target lifted by research analysts at Stifel Nicolaus from $90.00 to $104.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential downside of 1.08% from the stock’s previous close.

A number of other brokerages have also weighed in on LNW. Benchmark restated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Wednesday. Truist Financial decreased their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.83.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $105.13 on Wednesday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm has a fifty day moving average price of $88.98 and a 200 day moving average price of $95.90. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 0.33 and a beta of 1.72.

Institutional Investors Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently made changes to their positions in LNW. Norges Bank purchased a new stake in shares of Light & Wonder in the fourth quarter valued at $91,683,000. Park West Asset Management LLC purchased a new position in Light & Wonder in the 4th quarter worth about $46,241,000. FMR LLC increased its stake in Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Light & Wonder in the 3rd quarter worth about $25,277,000. Finally, Bank of Nova Scotia bought a new position in Light & Wonder during the 4th quarter worth about $16,020,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.