why International Game Technology PLC [IGT] is a Good Choice for Investors After New Price Target of $29.31



International Game Technology PLC [NYSE: IGT] stock went on an upward path that rose over 3.22% on Wednesday, amounting to a one-week price decrease of less than -0.09%. The company report on September 21, 2021 that IGT Congratulates Wendy Montgomery for Induction into Lottery Industry Hall of Fame.

Company’s Senior Vice President of Global Brand, Marketing and Communications honored for playing pivotal role in lottery industry.

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— International Game Technology PLC (“IGT”) (NYSE: IGT) announced that Wendy Montgomery, the Company’s Senior Vice President of Global Brand, Marketing and Communications, will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2021. Montgomery will be honored on Oct. 27 in Nashville, Tenn., at an in-person event hosted by the Public Gaming Research Institute (PGRI) in conjunction with its Lottery Expo.

Over the last 12 months, IGT stock rose by 87.63%. The one-year International Game Technology PLC stock forecast points to a potential upside of 23.44. The average equity rating for IGT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.54 billion, with 205.10 million shares outstanding and 98.73 million shares in the current float. Compared to the average trading volume of 1.85M shares, IGT stock reached a trading volume of 1218442 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $29.31 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 0.93, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 3.78, with the Price to Cash per share for the same quarter was set at 3.16. Price to Free Cash Flow for IGT in the course of the last twelve months was 5.72 with Quick ratio for the last quarter at 1.20.

IGT Stock Performance Analysis:

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 -0.09. With this latest performance, IGT shares gained by 20.65% in over the last four-week period, additionally plugging by 37.25% over the last 6 months – not to mention a rise of 87.63% 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 59.82, with the RSI for the last a single of trading hit 62.07, and the three-weeks RSI is set at 57.45 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 20.32, while it was recorded at 22.07 for the last single week of trading, and 19.38 for the last 200 days.

Insight into International Game Technology PLC Fundamentals:

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.


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 Position Details

There are presently around $2,006 million, or 45.70% of IGT stock, in the hands of institutional investors. The top three institutional holders of IGT stocks are: BLACKROCK INC. with ownership of 10,954,614, which is approximately 16.633% of the company’s market cap and around 51.64% of the total institutional ownership; BOSTON PARTNERS, holding 6,605,677 shares of the stock with an approximate value of $148.23 million in IGT stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $107.51 million in IGT stock with ownership of nearly 9.552% of the company’s market capitalization.

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119 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 15,778,079 shares. Additionally, 116 investors decreased positions by around 13,032,488 shares, while 39 investors held positions by with 60,573,803 shares. The mentioned changes placed institutional holdings at 89,384,370 shares, according to the latest SEC report filing. IGT stock had 46 new institutional investments in for a total of 5,555,158 shares, while 38 institutional investors sold positions of 2,450,754 shares during the same period.



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