International Game Technology PLC [IGT] Stock trading around $25.73 per share: What’s Next?

International Game Technology PLC [NYSE: IGT] closed the trading session at $25.73 on 06/02/21. The day’s price range saw the stock hit a low of $25.19, while the highest price level was $26.14. The company report on May 25, 2021 that IGT Unveils Wheel of Fortune-Themed Games at Churchill Downs Incorporated Historical Horse Racing Facilities in Kentucky.

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International Game Technology PLC (“IGT”) (NYSE:IGT) announced that it has extended its historical horse racing (HHR) portfolio to include performance-driving Wheel of Fortune®-themed games. The highly anticipated games debuted at Churchill Downs Incorporated (“CDI”) HHR facilities throughout Kentucky, marking the first licensed theme IGT has introduced into the HHR market.

IGT deployed a total of 40 CrystalWheel™ cabinets featuring an HHR version of the exciting Wheel of Fortune Cash Link™ Exotic Far East theme throughout Derby City Gaming in Louisville, Oak Grove Racing, Gaming & Hotel in Oak Grove, and CDI’s newest Kentucky property, Newport Racing & Gaming in Newport.

The stocks have a year to date performance of 51.89 percent and weekly performance of 8.66 percent. The stock has been moved at 104.37 percent over the last six months. The stock has performed 48.64 percent around the most recent 30 days and changed 41.14 percent over the most recent 3-months.

If compared to the average trading volume of 2.47M shares, IGT reached to a volume of 2635324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about International Game Technology PLC [IGT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IGT shares is $26.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IGT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for International Game Technology PLC shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 13, 2021. The new note on the price target was released on January 19, 2021, representing the official price target for International Game Technology PLC stock. Previously, the target price had yet another raise to $21, while Argus analysts kept a Buy rating on IGT stock. On November 19, 2020, analysts increased their price target for IGT shares from 5 to 14.

The Average True Range (ATR) for International Game Technology PLC is set at 1.06, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 6.32, with the Price to Cash per share for the same quarter was set at 3.62. Price to Free Cash Flow for IGT in the course of the last twelve months was 7.38 with Quick ratio for the last quarter at 1.20.

IGT stock trade performance evaluation

International Game Technology PLC [IGT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.66. With this latest performance, IGT shares gained by 48.64% in over the last four-week period, additionally plugging by 104.37% over the last 6 months – not to mention a rise of 178.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IGT stock in for the last two-week period is set at 77.13, with the RSI for the last a single of trading hit 81.12, and the three-weeks RSI is set at 73.04 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 18.90, while it was recorded at 24.82 for the last single week of trading, and 15.23 for the last 200 days.

International Game Technology PLC [IGT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and International Game Technology PLC [IGT] shares currently have an operating margin of +7.64 and a Gross Margin at +36.46. International Game Technology PLC’s Net Margin is presently recorded at -30.15.

Return on Total Capital for IGT is now 2.25, given the latest momentum, and Return on Invested Capital for the company is -10.13. Return on Equity for this stock declined to -77.15, with Return on Assets sitting at -7.05. When it comes to the capital structure of this company, International Game Technology PLC [IGT] has a Total Debt to Total Equity ratio set at 1,107.52. Additionally, IGT Total Debt to Total Capital is recorded at 91.72, with Total Debt to Total Assets ending up at 66.21. Long-Term Debt to Equity for the company is recorded at 1,049.80, with the Long-Term Debt to Total Capital now at 86.94.

Reflecting on the efficiency of the workforce at the company, International Game Technology PLC [IGT] managed to generate an average of -$85,023 per employee. Receivables Turnover for the company is 2.32 with a Total Asset Turnover recorded at a value of 0.23.International Game Technology PLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for International Game Technology PLC [IGT] stock

With the latest financial reports released by the company, International Game Technology PLC posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IGT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for International Game Technology PLC go to 30.18%.

International Game Technology PLC [IGT]: Insider Ownership positions

There are presently around $2,199 million, or 44.20% of IGT stock, in the hands of institutional investors. The top three institutional holders of IGT stocks are: BLACKROCK INC. with ownership of 9,392,417, which is approximately -18.186% of the company’s market cap and around 51.63% of the total institutional ownership; BOSTON PARTNERS, holding 6,441,404 shares of the stock with an approximate value of $165.74 million in IGT stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $112.52 million in IGT stock with ownership of nearly -13.922% of the company’s market capitalization.

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Positions in International Game Technology PLC stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 120 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 15,190,300 shares. Additionally, 96 investors decreased positions by around 13,906,706 shares, while 37 investors held positions by with 56,363,986 shares. The mentioned changes placed institutional holdings at 85,460,992 shares, according to the latest SEC report filing. IGT stock had 58 new institutional investments in for a total of 7,005,644 shares, while 25 institutional investors sold positions of 1,399,055 shares during the same period.

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