Texas (October 9, 2013) Wax Ink has issued a No Investment Interest opinion for International Game Technology (NYSE: IGT) based on a recent baseline equity review that placed fair value between $21-$26.
No investment interest means that the current risk reward ratio is neither favorable nor unfavorable for investment consideration at this time.
The recent close of $18.62 is approximately 47% above the fair value buy target for the stock and approximately 29% below the fair value close target for the stock. The recent close is also 2% below analysts' twelve-month $19.00 median price target for the stock.
The recent close represents a 20% increase in the one-year price of the stock, while year-over-year sales increased 10%, year-over-year earnings increased 29%, year-over-year debt increased 7%, and year-over-year free cash flow increased 25%.
The stock currently has a trailing twelve-month PE Ratio of 9, and a PEG Ratio of 0.7 basis estimated forward earnings growth of 13.5%.
In the past 52 weeks, share prices have moved between a high of $21.20 and a low of $12.37, placing equilibrium at $18.40.
With the recent close, the stock is trading 14% below the 52 week high, 34% above the 52 week low, and 1% above equilibrium.
The three-month average daily trading volume for this stock is, approximately 3.4 million shares.
International Game Technology is a global gaming company. It designs, develops, markets and manufactures casino games, gaming equipment and systems technology for land-based and online social gaming and wagering markets.
The company's listed competitors include Aristocrat Leisure, Bally Technologies,and WMS Industries.
Financial information contained herein, is based on the company's most recent annual SEC filing for year ending September 29, 2012 and all prices are per share unless otherwise noted.
Wax Ink currently has no investment position in any company mentioned in this alert.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.