ITT (NYSE:ITT) Price Target Cut to $179.00 by Analysts at Stifel Nicolaus

ITT (NYSE:ITT) had its price target cut by stock analysts at Stifel Nicolaus from $180.00 to $179.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ price objective points to a potential upside of 18.31% from the stock’s previous close.

Several other equities research analysts have also commented on ITT. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.13.

ITT Stock Down 1.2 %

ITT stock opened at $151.30 on Friday. ITT has a one year low of $118.58 and a one year high of $161.13. The stock has a fifty day moving average of $149.38 and a 200 day moving average of $144.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market cap of $12.33 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

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

Institutional Investors Weigh In On ITT

A number of hedge funds have recently made changes to their positions in ITT. Trust Point Inc. increased its stake in ITT by 45.6% in the 4th quarter. Trust Point Inc. now owns 3,261 shares of the conglomerate’s stock worth $466,000 after acquiring an additional 1,022 shares during the last quarter. JB Capital LLC raised its stake in ITT by 7.8% during the fourth quarter. JB Capital LLC now owns 12,028 shares of the conglomerate’s stock valued at $1,718,000 after purchasing an additional 873 shares in the last quarter. Crews Bank & Trust bought a new position in ITT during the fourth quarter valued at $229,000. R Squared Ltd purchased a new position in shares of ITT in the 4th quarter worth $309,000. Finally, Pacer Advisors Inc. increased its holdings in shares of ITT by 17.8% in the 4th quarter. Pacer Advisors Inc. now owns 19,868 shares of the conglomerate’s stock worth $2,839,000 after buying an additional 2,999 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.