ITT Corp PT Raised to $40.00 at Barclays (ITT)
Investment analysts at Barclays upped their price objective on shares of ITT Corp (NYSE:ITT) from $35.00 to $40.00 in a note issued to investors on Friday, American Banking News.com reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price points to a potential upside of 0.68% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird upgraded shares of ITT Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $52.00 price target on the stock, up previously from $37.00. Separately, analysts at Bank of America Corp. initiated coverage on shares of ITT Corp in a research note to investors on Wednesday, October 16th. They set a “neutral” rating and a $40.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of ITT Corp in a research note to investors on Thursday, August 22nd. They now have a $35.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. ITT Corp has a consensus rating of “Hold” and an average price target of $38.14.
Shares of ITT Corp (NYSE:ITT) traded up 0.86% on Friday, hitting $40.07. 1,085,211 shares of the company’s stock traded hands. ITT Corp has a 1-year low of $19.44 and a 1-year high of $40.40. The stock has a 50-day moving average of $36.46 and a 200-day moving average of $32.24. The company has a market cap of $3.618 billion and a price-to-earnings ratio of 24.37.
ITT Corp (NYSE:ITT) last announced its earnings results on Thursday, October 31st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.84 by $0.30. The company had revenue of $634.00 million for the quarter, compared to the consensus estimate of $606.60 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts predict that ITT Corp will post $1.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Friday, November 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, November 13th.
ITT Corporation (NYSE:ITT) is a diversified manufacturer of engineered critical components and customized technology solutions for industrial markets.
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