why International Game Technology PLC [IGT] is a Good Choice for Investors After New Price Target of $35.21

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International Game Technology PLC [NYSE: IGT] slipped around -0.16 points on Thursday, while shares priced at $18.54 at the close of the session, down -0.86%. The company report on July 7, 2022 that IGT Celebrates 15 Years of Environmental, Social and Governance Excellence with Publication of 2021 Sustainability Report.


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International Game Technology PLC (“IGT”) (NYSE: IGT) announced today the release of its 2021 Sustainability Report, which outlines the Company’s demonstrated environmental, social and governance (ESG) performance. IGT’s 15th annual Sustainability Report validates the Company’s commitment to operating as an industry-leading sustainable business and illustrates its latest achievements in generating value for its stakeholders.

“IGT understood the vast importance of sustainability 15 years ago when we issued the Company’s first Sustainability Report, and our 2021 Sustainability Report underscores the progress we have made since then,” said Vince Sadusky, IGT CEO. “We are developing our sustainability plans to further integrate sustainability across the entire value chain and improve the ESG impact throughout our daily operations. Highlighted in our 2021 Sustainability Report, this plan outlines strategic goals that will drive our ESG performance, now and in the future.”.

International Game Technology PLC stock is now -35.87% down from its year-to-date (YTD) trading value. IGT Stock saw the intraday high of $19.37 and lowest of $18.49 per share. The company’s 52-week high price is 32.95, which means current price is +5.79% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 2.07M shares, IGT reached a trading volume of 2451525 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $35.21 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.

Jefferies have made an estimate for International Game Technology PLC shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 12, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on December 17, 2021, representing the official price target for International Game Technology PLC stock. Previously, the target price had yet another drop from $38 to $33, while Jefferies kept a Hold rating on IGT stock.

The Average True Range (ATR) for International Game Technology PLC is set at 1.14, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 0.88. The Price to Book ratio for the last quarter was 2.88, with the Price to Cash per share for the same quarter was set at 3.08. Price to Free Cash Flow for IGT in the course of the last twelve months was 5.96 with Quick ratio for the last quarter at 1.30.

How has IGT stock performed recently?

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 -3.44. With this latest performance, IGT shares dropped by -15.61% in over the last four-week period, additionally sinking by -35.65% over the last 6 months – not to mention a drop of -19.32% 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 43.07, with the RSI for the last a single of trading hit 41.48, and the three-weeks RSI is set at 43.80 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 20.39, while it was recorded at 18.95 for the last single week of trading, and 25.37 for the last 200 days.

International Game Technology PLC [IGT]: Deeper insight into the 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 1.30 and a Current Ratio set at 1.40.

Earnings analysis for International Game Technology PLC [IGT]

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%.

Insider trade positions for International Game Technology PLC [IGT]

There are presently around $1,677 million, or 47.80% of IGT stock, in the hands of institutional investors. The top three institutional holders of IGT stocks are: BLACKROCK INC. with ownership of 9,641,170, which is approximately -12.464% of the company’s market cap and around 52.02% of the total institutional ownership; MASSACHUSETTS FINANCIAL SERVICES CO /MA/, holding 7,433,167 shares of the stock with an approximate value of $137.81 million in IGT stocks shares; and BOSTON PARTNERS, currently with $123.52 million in IGT stock with ownership of nearly 36.912% of the company’s market capitalization.

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 120 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 14,645,122 shares. Additionally, 129 investors decreased positions by around 13,620,130 shares, while 27 investors held positions by with 62,179,105 shares. The mentioned changes placed institutional holdings at 90,444,357 shares, according to the latest SEC report filing. IGT stock had 36 new institutional investments in for a total of 779,438 shares, while 45 institutional investors sold positions of 3,811,597 shares during the same period.

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