While International Game Technology PLC has overperformed by 3.79%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IGT fell by -11.78%, with highs and lows ranging from $33.99 to $19.96, whereas the simple moving average fell by -22.55% 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’.
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Analysis of International Game Technology PLC (IGT)
IGT currently pays a dividend of $0.80 per share, which means investors will get a return regardless of the company’s performance over the next few months. Further, the quarter-over-quarter increase in sales is 3.39%, showing a positive trend in the upcoming months.
In order to gain a clear picture of International Game Technology PLC’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 10.86% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.05, 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.
An average volume of 1.18M can be a very valuable indicator of volatility for IGT stock. On a monthly basis, the volatility of the stock is set at 4.19%, whereas on a weekly basis, it is put at 2.91%, with a gain of 0.64% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.60, showing growth from the present price of $22.16, 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?
The United Kingdom based company International Game Technology PLC (IGT) is one of the biggest names in Gambling. 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 29.01, there is a growth in quarterly earnings of 87.54%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. 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.
