Stifel Nicolaus Has Lowered Expectations for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its target price cut by stock analysts at Stifel Nicolaus from $180.00 to $179.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ target price indicates a potential upside of 18.31% from the company’s previous close.

ITT has been the topic of several other research reports. Citigroup cut their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird cut their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Price Performance

Shares of NYSE:ITT opened at $151.30 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a market cap of $12.33 billion, a PE ratio of 25.82, a PEG ratio of 1.84 and a beta of 1.41. The company’s fifty day moving average is $149.38 and its 200 day moving average is $144.10. ITT has a 52 week low of $118.58 and a 52 week high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Research analysts anticipate that ITT will post 5.84 earnings per share for the current year.

Institutional Investors Weigh In On ITT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in shares of ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after buying an additional 69 shares during the period. CIBC Asset Management Inc grew its holdings in ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the period. Round Rock Advisors LLC increased its stake in shares of ITT by 0.4% during the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after purchasing an additional 90 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after purchasing an additional 93 shares during the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after purchasing an additional 100 shares in the last quarter. 91.59% of the stock is 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.