A Technical View of the International Game Technology PLC (IGT)

International Game Technology PLC (NYSE:IGT) saw an upside of 1.52% to close Monday at $28.64 after adding $0.43 on the day. The 5-day average trading volume is 2,008,360 shares of the company’s common stock. It has gained $29.26 in the past week. An average of 2,321,580 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,105,276.

IGT’s 1-month performance is 34.46% or $7.34 on its low of $20.67 reached on 09/13/21. The company’s shares have touched a 52-week low of $7.68 and high of $28.91, with the stock’s rally to the 52-week high happening on 10/11/21. YTD, IGT has achieved 69.07% or $11.70. However, the current price is down -0.93%% from the 52-week high price.

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Valuation Metrics

International Game Technology PLC (IGT) has a trailing price-to-earnings (P/E) ratio of 21.70 for the broader industry and 30.68 for the sector. The company’s PE ratio for the last five years has touched a high of 221.23 and a low of 14.38. IGT stock has a beta of 2.15. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.66 while the price-to-book (PB) in the most recent quarter is 4.83, with the price to cash flow ratio at 7.53.

International Game Technology PLC’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.30 meaning that IGT stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 5.72, while the total debt to equity was 5.72. In terms of profitability, the gross margin trailing 12 months is 46.50%. The trailing 12-month EBITDA margin is 25.81% while for the period ending June 29; International Game Technology PLC’s operating margin was 19.10%. The firm’s gross profit as reported stood at $1.14 billion against revenue of $3.12 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected IGT to announce $0.23 per share in earnings in its latest quarter, but it posted $0.48, representing a 108.70% surprise. EBITDA for the quarter stood at more than $440.0 million. IGT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 9.96 billion, with total debt at $7.22 billion

Technical Picture

Let’s look briefly at International Game Technology PLC (IGT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 74.42% to suggest the stock is trending Overbought, with historical volatility in this time period at 39.22%.

The stock’s 5-day moving average is $28.19, reflecting a +3.28% or $0.91 change from its current price. IGT is currently trading +32.29% above its 20-day SMA, +24.25% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +52.75% and +75.17% respectively.

Stochastic %K and %D was 94.13% and 93.89% and the average true range (ATR) pointed at 1.17. The RSI (14) points at 73.20%, while the 14-day stochastic is at 91.62% with the period’s ATR at 1.14. The stock’s 9-day MACD Oscillator is pointing at 0.79 and 1.87 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for IGT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate IGT as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.

What is IGT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $21.00 and a high of $36.00, with their median price target at $32.00. Looking at these predictions, the average price target given by analysts is for International Game Technology PLC (IGT) stock is $29.46.


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