Stock Buzzer: Does International Game Technology Ordinary Shares Have More Gas After Touching 52-Week High?

Stock Buzzer: Does International Game Technology Ordinary Shares Have More Gas After Touching 52 Week High?

The stock of International Game Technology Ordinary Shares (NYSE:IGT) hit a new 52-week high and has $38.51 target or 53.00% above today’s $25.17 share price. The 8 months bullish chart indicates low risk for the $5.02 billion company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $38.51 price target is reached, the company will be worth $2.66 billion 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 153,937 shares traded hands. International Game Technology Ordinary Shares (NYSE:IGT) has risen 62.42% since March 2, 2016 and is uptrending. It has outperformed by 54.16% the S&P500.

Analysts await International Game Technology Ordinary Shares (NYSE:IGT) to report earnings on November, 10. They expect $0.38 EPS, down 17.39% or $0.08 from last year’s $0.46 per share. IGT’s profit will be $75.82M for 16.55 P/E if the $0.38 EPS becomes a reality. After $0.43 actual EPS 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 stock of International Game Technology Ordinary Shares (NYSE:IGT) earned “Buy” rating by Bank of America on Tuesday, September 13. Sterne Agee CRT downgraded the stock to “Underperform” rating in Tuesday, August 18 report. As per Wednesday, August 19, the company rating was initiated by Goldman Sachs. The stock has “Buy” rating given by Union Gaming Research on Tuesday, August 18. The firm earned “Buy” rating on Friday, September 16 by Argus Research. Sterne Agee CRT upgraded International Game Technology Ordinary Shares (NYSE:IGT) rating on Monday, October 5. Sterne Agee CRT has “Neutral” rating and $15.50 price target. The rating was maintained by Telsey Advisory Group on Wednesday, August 12 with “Market Perform”. The firm earned “Outperform” rating on Friday, July 29 by Telsey Advisory Group. On Wednesday, September 28 the stock rating was maintained by Telsey Advisory Group with “Outperform”.

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 2016 Q2. Its down 1.00, from 1 in 2016Q1. The ratio dived, 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 Mgmt Ltd Liability accumulated 1 shares or 0% of the stock. Huntington Bank & Trust has invested 0.01% of its portfolio in International Game Technology Ordinary Shares (NYSE:IGT).

More 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 the news titled: “International Game Technology PLC Reports Fourth Quarter And Full Year 2015 …” on March 17, 2016. Prnewswire.com‘s news article titled: “IGT and GTECH S.p.A. Announce IGT’s Final Per Share Merger Consideration under …” with publication date: April 02, 2015 was also an interesting one.

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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