Illinois Tool Works Given New $81.00 Price Target at Barclays (ITW)
Equities researchers at Barclays upped their price target on shares of Illinois Tool Works (NYSE:ITW) from $77.00 to $81.00 in a research report issued on Wednesday, AnalystRatings.Net reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would suggest a potential upside of 3.79% from the stock’s previous close.
A number of other firms have also recently commented on ITW. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Illinois Tool Works in a research note to investors on Tuesday. They now have a $80.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Illinois Tool Works from $70.00 to $77.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Illinois Tool Works from $77.00 to $81.00 in a research note to investors on Wednesday, October 16th. They now have a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $75.36.
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.60% during mid-day trading on Wednesday, hitting $78.51. The stock had a trading volume of 1,432,746 shares. Illinois Tool Works has a one year low of $58.12 and a one year high of $75.39. The stock’s 50-day moving average is $72.90 and its 200-day moving average is $68.1. The company has a market cap of $35.163 billion and a P/E ratio of 15.46.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.05. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company posted $1.09 earnings per share. Illinois Tool Works’s revenue was down 20.7% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works will post $3.69 earnings per share for the current fiscal year.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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