ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research report issued on Wednesday. They presently have a $49.00 price target on the conglomerate’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 24.37% from the company’s current price.
ITT has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) cut shares of ITT from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. ITT currently has a consensus rating of “Buy” and a consensus target price of $46.29.
ITT (NYSE:ITT) opened at 39.40 on Wednesday. ITT has a 52-week low of $32.46 and a 52-week high of $44.00. The stock has a 50 day moving average price of $40.96 and a 200 day moving average price of $40.51. The firm has a market cap of $3.47 billion, a P/E ratio of 16.87 and a beta of 1.47.
ITT (NYSE:ITT) last posted its earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter last year, the firm earned $0.67 EPS. The company’s quarterly revenue 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.
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A number of large investors have recently modified their holdings of the stock. Pinnacle Financial Partners Inc. acquired a new stake in shares of ITT during the second quarter worth about $105,000. Riverhead Capital Management LLC boosted its stake in shares of ITT by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after buying an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares during the last quarter. Timber Hill LLC acquired a new stake in shares of ITT during the first quarter worth about $201,000. Finally, Coastline Trust Co acquired a new stake in shares of ITT during the first quarter worth about $205,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.
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.
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