ITT (NYSE:ITT) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

ITT (NYSE:ITT) had its price target increased by equities research analysts at Stifel Nicolaus from $171.00 to $180.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 18.30% from the company’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Wolfe Research started coverage on ITT in a research note on Wednesday. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Down 1.1 %

Shares of ITT stock opened at $152.16 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a fifty day moving average price of $151.13 and a 200-day moving average price of $140.43. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.02 and a beta of 1.40. ITT has a 1 year low of $111.96 and a 1 year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that ITT will post 5.84 earnings per share for the current year.

Hedge Funds Weigh In On ITT

Large investors have recently modified their holdings of the stock. Algert Global LLC purchased a new position in ITT during the second quarter worth $1,158,000. Eagle Asset Management Inc. bought a new stake in shares of ITT in the 3rd quarter worth about $67,503,000. AQR Capital Management LLC boosted its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in ITT by 46.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after purchasing an additional 30,320 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in ITT by 16,832.5% in the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after purchasing an additional 13,971 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.