Stifel Nicolaus Increases ITT (NYSE:ITT) Price Target to $167.00

ITT (NYSE:ITT) had its target price raised by research analysts at Stifel Nicolaus from $157.00 to $167.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ target price indicates a potential upside of 11.42% from the company’s current price.

A number of other brokerages also recently commented on ITT. The Goldman Sachs Group boosted their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen boosted their price objective on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has an average rating of “Buy” and a consensus target price of $155.25.

ITT Stock Down 0.3 %

Shares of NYSE:ITT opened at $149.88 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The firm has a market capitalization of $12.34 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40. The firm’s 50-day moving average is $140.78 and its two-hundred day moving average is $135.18. ITT has a 1 year low of $91.94 and a 1 year high of $153.99.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same period in the previous year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that ITT will post 5.84 EPS for the current year.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in ITT in the second quarter valued at approximately $27,000. Rise Advisors LLC lifted its stake in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after buying an additional 205 shares during the last quarter. Headlands Technologies LLC purchased a new stake in ITT in the second quarter valued at approximately $32,000. UMB Bank n.a. lifted its stake in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in ITT in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.