ITT (NYSE:ITT) PT Lowered to $92.00

ITT (NYSE:ITT – Get Rating) had its target price decreased by equities researchers at Cowen from $105.00 to $92.00 in a report released on Monday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Cowen’s price target suggests a potential upside of 35.59% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Cowen decreased their price target on ITT from $105.00 to $92.00 in a report on Monday. UBS Group raised ITT from a “neutral” rating to a “buy” rating and decreased their price target for the company from $107.00 to $95.00 in a report on Friday, April 8th. KeyCorp decreased their price target on ITT from $113.00 to $100.00 in a report on Wednesday, May 4th. Robert W. Baird decreased their price target on ITT from $90.00 to $84.00 in a report on Wednesday, May 4th. Finally, Stifel Nicolaus decreased their price target on ITT from $107.00 to $91.00 and set a “buy” rating on the stock in a report on Monday, April 18th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $101.18.

ITT stock traded down $2.61 during trading on Monday, reaching $67.85. The company had a trading volume of 1,713 shares, compared to its average volume of 670,359. ITT has a 52 week low of $67.16 and a 52 week high of $105.54. The firm’s 50-day simple moving average is $72.21 and its 200 day simple moving average is $84.64. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.50.

ITT (NYSE:ITT – Get Rating) last announced its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ITT had a return on equity of 15.90% and a net margin of 10.92%. The company had revenue of $726.20 million for the quarter, compared to analysts’ expectations of $695.93 million. During the same period last year, the firm earned $1.06 EPS. ITT’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that ITT will post 4.42 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITT. Meeder Asset Management Inc. purchased a new position in shares of ITT during the first quarter valued at approximately $26,000. National Bank of Canada FI purchased a new position in shares of ITT during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $28,000. KB Financial Partners LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $36,000. Finally, Parkside Investments LLC bought a new stake in shares of ITT during the first quarter valued at approximately $37,000. Institutional investors own 95.64% of the company’s stock.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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