why International Game Technology PLC [IGT] is a Good Choice for Investors After New Price Target of $26.24

International Game Technology PLC [NYSE: IGT] loss -8.04% or -1.74 points to close at $19.91 with a heavy trading volume of 3319131 shares. The company report on July 14, 2021 that IGT PlaySports Enters Washington to Power Sports Betting at Snoqualmie Casino.

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International Game Technology PLC (“IGT”) (NYSE: IGT) announced that the Company is expanding its U.S. sports betting footprint to Washington to power sports betting at Snoqualmie Casino in Snoqualmie. As part of this agreement, IGT will deliver its proven PlaySports turnkey solution, including its trading advisory services, for retail and on-premise mobile sports betting.

“As Seattle’s closest casino, Snoqualmie Casino is thrilled to offer our patrons new types of gaming experiences backed by IGT’s proven PlaySports solution,” said Stanford Le, Snoqualmie Casino Chief Executive Officer. “IGT’s leading sports betting platform, products, trading advisory services and on-premise mobile solution will allow us to quickly and easily deploy an exceptional localized sports betting program. As the closest sportsbook to the Seahawks’ and Mariners’ stadiums, expanding our offering to include sports betting will enable us to further engage sports fans at our casino and complement the popular Seahawks Pit, our immersive Seahawks-branded table game experience.”.

It opened the trading session at $22.13, the shares rose to $22.13 and dropped to $19.75, the range by which the price of stock traded the whole day. The daily chart for IGT points out that the company has recorded 9.52% gains over the past six months. However, it is still -159.24% lower than its most recent low trading price.

If we look at the average trading volume of 1.96M shares, IGT reached to a volume of 3319131 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $26.24 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 1.00, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 1.39. The Price to Book ratio for the last quarter was 4.89, with the Price to Cash per share for the same quarter was set at 3.36. Price to Free Cash Flow for IGT in the course of the last twelve months was 6.16 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for IGT stock

International Game Technology PLC [IGT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.81. With this latest performance, IGT shares dropped by -18.20% in over the last four-week period, additionally plugging by 9.52% over the last 6 months – not to mention a rise of 89.62% 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 26.62, with the RSI for the last a single of trading hit 17.81, and the three-weeks RSI is set at 34.48 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 23.30, while it was recorded at 21.91 for the last single week of trading, and 17.18 for the last 200 days.

International Game Technology PLC [IGT]: A deeper dive into fundamental analysis

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.

International Game Technology PLC [IGT]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at International Game Technology PLC [IGT]

There are presently around $1,664 million, or 45.10% 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 $128.25 million in IGT stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $87.07 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 August and at the time of the August reporting period, where 119 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 13,317,511 shares. Additionally, 97 investors decreased positions by around 15,581,809 shares, while 35 investors held positions by with 54,695,783 shares. The mentioned changes placed institutional holdings at 83,595,103 shares, according to the latest SEC report filing. IGT stock had 59 new institutional investments in for a total of 7,026,245 shares, while 25 institutional investors sold positions of 1,407,994 shares during the same period.

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