ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating reiterated by research analysts at Cowen and Company in a research report issued on Thursday. They presently have a $50.00 target price on the conglomerate’s stock. Cowen and Company’s price target would suggest a potential upside of 12.54% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Friday, July 28th. ValuEngine cut ITT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $49.00 price objective on shares of ITT in a report on Wednesday, August 16th. BidaskClub cut ITT from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.75.
ITT (NYSE ITT) opened at 44.43 on Thursday. ITT has a 12 month low of $32.46 and a 12 month high of $44.57. The company has a market cap of $3.91 billion, a PE ratio of 19.03 and a beta of 1.46. The company has a 50 day moving average price of $40.49 and a 200-day moving average price of $40.30.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that ITT will post $2.46 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “ITT Inc. (ITT) Stock Rating Reaffirmed by Cowen and Company” was reported by Week Herald and is owned by of Week Herald. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://weekherald.com/2017/09/23/itt-inc-itt-stock-rating-reaffirmed-by-cowen-and-company.html.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in ITT by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,014,284 shares of the conglomerate’s stock worth $322,014,000 after acquiring an additional 74,138 shares during the last quarter. BlackRock Inc. increased its stake in ITT by 10,370.9% in the 1st quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after acquiring an additional 7,212,684 shares during the last quarter. Janus Henderson Group PLC bought a new position in ITT in the 2nd quarter worth about $122,628,000. FMR LLC increased its stake in ITT by 12.7% in the 2nd quarter. FMR LLC now owns 2,844,070 shares of the conglomerate’s stock worth $114,274,000 after acquiring an additional 319,880 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in ITT by 4.8% in the 1st quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock worth $116,002,000 after acquiring an additional 130,595 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.