Stifel Nicolaus Boosts ITT (NYSE:ITT) Price Target to $180.00

ITT (NYSE:ITT) had its price target increased by investment analysts at Stifel Nicolaus from $171.00 to $180.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 17.00% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup increased their price target on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen increased their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wolfe Research began coverage on shares of ITT in a research note on Wednesday. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.75.

ITT Trading Down 0.2 %

ITT traded down $0.30 during midday trading on Wednesday, hitting $153.84. 28,359 shares of the company were exchanged, compared to its average volume of 378,001. The firm’s 50 day moving average price is $150.91 and its 200-day moving average price is $140.25. ITT has a 1-year low of $111.96 and a 1-year high of $161.13. The firm has a market capitalization of $12.54 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.02 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ITT. Capital Performance Advisors LLP purchased a new position in shares of ITT in the 3rd quarter worth about $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT during the 3rd quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the period. Headlands Technologies LLC purchased a new stake in ITT in the second quarter worth $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in ITT in the second quarter worth $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About ITT

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.