Live Price Coverage: After Making 52-Week High, Is International Game Technology Ordinary Shares’s Near-Term Analysis Positive?

Live Price Coverage: After Making 52 Week High, Is International Game Technology Ordinary Shares's Near Term Analysis Positive?

The stock of International Game Technology Ordinary Shares (NYSE:IGT) hit a new 52-week high and has $48.05 target or 67.00% above today’s $28.77 share price. The 5 months bullish chart indicates low risk for the $5.75 billion company. The 1-year high was reported on Oct, 31 by Barchart.com. If the $48.05 price target is reached, the company will be worth $3.85B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 277,246 shares traded hands. International Game Technology Ordinary Shares (NYSE:IGT) has risen 62.07% since March 29, 2016 and is uptrending. It has outperformed by 58.60% the S&P500.

Analysts await International Game Technology Ordinary Shares (NYSE:IGT) to report earnings on November, 10. They expect $0.38 earnings per share, down 17.39% or $0.08 from last year’s $0.46 per share. IGT’s profit will be $75.95 million for 18.93 P/E if the $0.38 EPS becomes a reality. After $0.43 actual earnings per share reported by International Game Technology Ordinary Shares for the previous quarter, Wall Street now forecasts -11.63% negative EPS growth.

International Game Technology Ordinary Shares (NYSE:IGT) Ratings Coverage

Out of 6 analysts covering Intl Game Tech. PLC (NYSE:IGT), 3 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 50% are positive. Intl Game Tech. PLC has been the topic of 11 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, July 29 by Telsey Advisory Group. Union Gaming Research initiated the shares of IGT in a report on Tuesday, August 18 with “Buy” rating. The stock of International Game Technology Ordinary Shares (NYSE:IGT) earned “Sell” rating by Goldman Sachs on Wednesday, August 19. On Tuesday, August 18 the stock rating was downgraded by Sterne Agee CRT to “Underperform”. The stock of International Game Technology Ordinary Shares (NYSE:IGT) has “Outperform” rating given on Wednesday, September 28 by Telsey Advisory Group. The stock of International Game Technology Ordinary Shares (NYSE:IGT) has “Buy” rating given on Friday, September 16 by Argus Research. Bank of America maintained International Game Technology Ordinary Shares (NYSE:IGT) on Tuesday, September 13 with “Buy” rating. Sterne Agee CRT upgraded International Game Technology Ordinary Shares (NYSE:IGT) on Monday, October 5 to “Neutral” rating. The company was maintained on Wednesday, August 12 by Telsey Advisory Group.

According to Zacks Investment Research, “International Game Technology PLC is a gaming company. The Company is engaged in design, development, manufacture and marketing of casino-style gaming equipment, systems technology, and game content. Its business segment consists of North America and International. The company operates primarily in the United Kingdom; Rome, Italy; Las Vegas, Nevada, and Providence, Rhode Island. International Game Technology PLC is headquartered in Las Vegas, Nevada.”

Insitutional Activity: The institutional sentiment decreased to 0 in Q2 2016. Its down 1.00, from 1 in 2016Q1. The ratio is negative, as 1 funds sold all International Game Technology Ordinary Shares shares owned while 0 reduced positions. 0 funds bought stakes while 0 increased positions. They now own 12,734 shares or 0.22% less from 12,762 shares in 2016Q1.
Gemmer Asset Management Ltd last reported 1 shares in the company. Huntington Bancorp reported 12,733 shares or 0.01% of all its holdings.

More important recent International Game Technology Ordinary Shares (NYSE:IGT) news were published by: Benzinga.com which released: “International Game Technology Scores Big With Argus’ Buy Rating” on September 16, 2016, also Prnewswire.com published article titled: “International Game Technology PLC Reports Fourth Quarter And Full Year 2015 …”, Prnewswire.com published: “IGT and GTECH S.p.A. Announce IGT’s Final Per Share Merger Consideration under …” on April 02, 2015. More interesting news about International Game Technology Ordinary Shares (NYSE:IGT) was released by: Prnewswire.com and their article: “International Game Technology PLC Reports First Quarter 2016 Results” with publication date: May 26, 2016.

IGT Company Profile

International Game Technology PLC (IGT PLC), incorporated on July 11, 2014, is an end-to-end gaming company. The Firm is engaged in operating and providing an integrated portfolio of technology services and products across various gaming markets, including lottery management services, online and instants lotteries, electronic gaming machines, sports betting, interactive gaming and commercial services. The Company’s divisions are North America Gaming and Interactive (NAGI), North America Lottery, International and Italy. IGT PLC provides business-to-consumer (B2C) and business-to-business (B2B) services and products to clients in approximately 100 countries. IGT PLC also licenses certain trademarks from third parties, such as Wheel of Fortune, Jeopardy!, Life is Good, Circuit of the Americas, Ghostbusters, Gas Monkey Garage, The Three Stooges, Plants v. Zombies, Bejeweled, Zuma Caesars, Harrah’s, Rio, Paris Las Vegas and Horseshoe. The Company’s lottery services are provided through concession or operator contracts (also referred to as lottery management services arrangements), facilities management contracts and product sales contracts. IGT PLC supplies a range of solutions for online, draw-based, and instant ticket lotteries to over 100 clients across the world. IGT PLC designs, sells and operates a suite of lottery-enabled point-of-sale terminals that are electronically linked with a centralized transaction processing system that reconciles lottery funds between the retailer, where a transaction is enabled, and the lottery authority. Among those solutions, IGT PLC provides and operates online lottery transaction processing systems, which are capable of processing over 500,000 transactions per minute. IGT PLC provides over 500,000 point-of-sale devices to lottery clients and lotteries that IGT PLC supports across the world.

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