International Game Technology PLC [IGT] Stock trading around $22.37 per share: What’s Next?

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International Game Technology PLC [NYSE: IGT] stock went on a downward path that fall over -0.45% on Wednesday, amounting to a one-week price increase of more than 5.27%. The company report on April 26, 2022 that IGT Becomes First US Industry Supplier to Achieve G4 Responsible Gaming Accreditation for Sports Betting.

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Latest Global Gambling Guidance Group endorsement fulfills IGT’s responsible gaming certifications across lottery, gaming, digital and sports betting.

International Game Technology PLC (“IGT”) (NYSE: IGT) announced today that it has become the first U.S. supplier in the gaming industry to receive Global Gambling Guidance Group (G4) responsible gaming accreditation for its sports betting operations. With this monumental achievement from G4, IGT is certified in responsible gaming across its four product segments encompassing lottery, gaming, digital and betting.

Over the last 12 months, IGT stock rose by 26.96%. The one-year International Game Technology PLC stock forecast points to a potential upside of 41.12. The average equity rating for IGT stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.78 billion, with 204.67 million shares outstanding and 98.11 million shares in the current float. Compared to the average trading volume of 1.93M shares, IGT stock reached a trading volume of 4268625 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 $37.99 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 2.10. 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.

Stifel have made an estimate for International Game Technology PLC shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, Jefferies dropped their target price from $38 to $33. The new note on the price target was released on November 17, 2021, representing the official price target for International Game Technology PLC stock. Previously, the target price had yet another raise to $35, while Berenberg analysts kept a Buy rating on IGT stock.

The Average True Range (ATR) for International Game Technology PLC is set at 1.48, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 3.57, with the Price to Cash per share for the same quarter was set at 2.76. Price to Free Cash Flow for IGT in the course of the last twelve months was 6.84 with Quick ratio for the last quarter at 1.20.

IGT Stock Performance Analysis:

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 5.27. With this latest performance, IGT shares dropped by -11.05% in over the last four-week period, additionally sinking by -29.87% over the last 6 months – not to mention a rise of 26.96% 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 45.22, with the RSI for the last a single of trading hit 45.91, and the three-weeks RSI is set at 45.06 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 24.36, while it was recorded at 22.41 for the last single week of trading, and 25.39 for the last 200 days.

Insight into International Game Technology PLC 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 +22.25 and a Gross Margin at +47.88. International Game Technology PLC’s Net Margin is presently recorded at +1.59.

Return on Equity for this stock inclined to 6.31, with Return on Assets sitting at 0.53.

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.

IGT Stock EPS

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 $2,040 million, or 47.30% of IGT stock, in the hands of institutional investors. The top three institutional holders of IGT stocks are: BLACKROCK INC. with ownership of 11,013,922, which is approximately 9.495% of the company’s market cap and around 51.65% of the total institutional ownership; MASSACHUSETTS FINANCIAL SERVICES CO /MA/, holding 6,883,436 shares of the stock with an approximate value of $154.67 million in IGT stocks shares; and LAZARD ASSET MANAGEMENT LLC, currently with $134.52 million in IGT stock with ownership of nearly 16.061% of the company’s market capitalization.

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 117 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 17,979,250 shares. Additionally, 132 investors decreased positions by around 19,399,084 shares, while 37 investors held positions by with 53,397,428 shares. The mentioned changes placed institutional holdings at 90,775,762 shares, according to the latest SEC report filing. IGT stock had 41 new institutional investments in for a total of 6,097,955 shares, while 39 institutional investors sold positions of 5,604,379 shares during the same period.