While International Game Technology PLC has overperformed by 6.17%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IGT fell by -13.48%, with highs and lows ranging from $33.99 to $19.96, whereas the simple moving average fell by -23.43% in the last 200 days.
On March 04, 2024, Stifel Downgraded International Game Technology PLC (NYSE: IGT) to Hold. A report published by Truist on March 01, 2024, Downgraded its rating to ‘Hold’ for IGT. Jefferies also Downgraded IGT shares as ‘Hold’, setting a target price of $29 on the company’s shares in a report dated January 04, 2024. B. Riley Securities initiated its ‘Buy’ rating for IGT, as published in its report on April 20, 2023. Jefferies’s report from May 12, 2022 suggests a price prediction of $26 for IGT shares, giving the stock a ‘Buy’ rating. Stifel also rated the stock as ‘Buy’.
Analysis of International Game Technology PLC (IGT)
The current dividend for IGT investors is set at $0.60 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 0.38%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of International Game Technology PLC’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 6.45% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.96, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and IGT is recording an average volume of 1.13M. On a monthly basis, the volatility of the stock is set at 3.99%, whereas on a weekly basis, it is put at 4.44%, with a gain of 1.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.83, showing growth from the present price of $22.02, which can serve as yet another indication of whether IGT is worth investing in or should be passed over.
How Do You Analyze International Game Technology PLC Shares?
International Game Technology PLC (IGT) is based in the United Kingdom and is one of the most prominent companies operating in the Gambling market. When comparing International Game Technology PLC shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 45.61, there is a growth in quarterly earnings of -64.39%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 48.24%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 45.74% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
IGT shares are owned by institutional investors to the tune of 45.74% at present.
