DA Davidson Trims ITT (NYSE:ITT) Target Price to $100.00

ITT (NYSE:ITTGet Rating) had its price target decreased by DA Davidson from $110.00 to $100.00 in a report released on Tuesday, The Fly reports. DA Davidson’s price target suggests a potential upside of 53.47% from the company’s current price.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus lowered their target price on shares of ITT from $107.00 to $91.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Cowen lowered their target price on shares of ITT from $105.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, June 13th. Robert W. Baird lowered their target price on shares of ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Oppenheimer cut shares of ITT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 28th. Finally, KeyCorp lowered their target price on shares of ITT from $113.00 to $100.00 in a research note on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $100.00.

Shares of NYSE:ITT traded up $0.83 during trading on Tuesday, reaching $65.16. The stock had a trading volume of 1,030 shares, compared to its average volume of 678,187. ITT has a one year low of $64.08 and a one year high of $105.54. The company has a market capitalization of $5.44 billion, a P/E ratio of 18.29, a PEG ratio of 1.15 and a beta of 1.50. The firm’s 50-day simple moving average is $71.46 and its 200 day simple moving average is $83.37.

ITT (NYSE:ITTGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ITT had a net margin of 10.92% and a return on equity of 15.90%. The business had revenue of $726.20 million for the quarter, compared to analysts’ expectations of $695.93 million. During the same period last year, the business earned $1.06 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that ITT will post 4.38 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Verition Fund Management LLC increased its holdings in shares of ITT by 285.2% during the 1st quarter. Verition Fund Management LLC now owns 8,009 shares of the conglomerate’s stock valued at $602,000 after purchasing an additional 5,930 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ITT by 11.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 166,451 shares of the conglomerate’s stock valued at $12,519,000 after purchasing an additional 17,478 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in ITT by 426.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,422 shares of the conglomerate’s stock worth $107,000 after acquiring an additional 1,152 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in ITT by 45.0% in the 1st quarter. Neuberger Berman Group LLC now owns 397,364 shares of the conglomerate’s stock worth $29,886,000 after acquiring an additional 123,247 shares in the last quarter. Finally, Capital International Sarl increased its holdings in ITT by 36.3% in the 1st quarter. Capital International Sarl now owns 78,360 shares of the conglomerate’s stock worth $5,893,000 after acquiring an additional 20,879 shares in the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.

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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