ITT (NYSE:ITT)‘s stock had its “buy” rating reiterated by investment analysts at Robert W. Baird in a research note issued on Wednesday. They presently have a $65.00 price target on the conglomerate’s stock. Robert W. Baird’s price target would suggest a potential upside of 14.46% from the company’s current price.
A number of other equities research analysts also recently commented on ITT. Oppenheimer set a $60.00 target price on ITT and gave the company a “buy” rating in a research report on Tuesday, July 10th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. KeyCorp lifted their target price on ITT from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. Stifel Nicolaus lifted their target price on ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Finally, DA Davidson set a $70.00 target price on ITT and gave the company a “buy” rating in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $66.63.
NYSE ITT traded up $0.60 on Wednesday, reaching $56.79. 82,832 shares of the company were exchanged, compared to its average volume of 939,319. The firm has a market capitalization of $4.99 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.71. ITT has a fifty-two week low of $46.10 and a fifty-two week high of $63.04.
ITT (NYSE:ITT) last posted its earnings results on Friday, November 2nd. The conglomerate reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. ITT had a return on equity of 16.10% and a net margin of 7.80%. The company had revenue of $680.60 million for the quarter, compared to the consensus estimate of $677.36 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts predict that ITT will post 3.15 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of ITT by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,248 shares of the conglomerate’s stock valued at $1,790,000 after buying an additional 986 shares during the period. Arizona State Retirement System raised its holdings in shares of ITT by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 60,680 shares of the conglomerate’s stock valued at $3,172,000 after buying an additional 1,140 shares during the period. Aperio Group LLC raised its holdings in shares of ITT by 10.0% in the 3rd quarter. Aperio Group LLC now owns 18,900 shares of the conglomerate’s stock valued at $1,158,000 after buying an additional 1,722 shares during the period. Jane Street Group LLC raised its holdings in shares of ITT by 22.9% in the 2nd quarter. Jane Street Group LLC now owns 11,059 shares of the conglomerate’s stock valued at $578,000 after buying an additional 2,058 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of ITT in the 3rd quarter valued at $128,000. Hedge funds and other institutional investors own 90.85% of the company’s stock.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
Further Reading: Cost of Capital
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