Illinois Tool Works Receives “Neutral” Rating from Zacks (ITW)
Illinois Tool Works (NYSE:ITW)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Tuesday, Analyst Ratings Network reports. They currently have a $83.00 price target on the stock. Zacks‘ price target indicates a potential upside of 8.10% from the company’s current price.
Zacks‘ analyst wrote, “Illinois Tool Works reported fourth quarter earnings per share of $0.92, up 41.5% year over year and above the Zacks Consensus Estimate of $0.91. Revenue grew 4.8% driven by solid performances in North America, China, Australia and New Zealand. Segmental performance was impressive, except for the revenue decline in Polymers & Fluids and Construction Products segments. Operating margin expanded 260 basis points, aided by a 110 basis point contribution from Enterprise Strategic initiatives. For 2014, earnings per share are predicted to be 18%-24% above 2013 earnings and revenue growth is expected to be within a band of 2%-4%, including organic growth of 2%-3%. Shareholders will be rewarded with $700 million of dividends and $1.8 billion worth of share buybacks. Progress on strategic initiatives is on track and cost savings of $600-$800 million are targeted through business structure simplification and strategic sourcing strategies. We maintain our Neutral recommendation on Illinois Tool Works. “
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.85% on Tuesday, hitting $77.43. The stock had a trading volume of 2,112,542 shares. Illinois Tool Works has a 52 week low of $59.71 and a 52 week high of $84.32. The stock’s 50-day moving average is $81.60 and its 200-day moving average is $77.30. The company has a market cap of $33.891 billion and a P/E ratio of 20.53.
Illinois Tool Works (NYSE:ITW) last released its earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.91 by $0.01. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $0.89 earnings per share. Illinois Tool Works’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Illinois Tool Works will post $4.46 EPS for the current fiscal year.
A number of other firms have also recently commented on ITW. Analysts at BMO Capital Markets upgraded shares of Illinois Tool Works from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, January 29th. They now have a $100.00 price target on the stock, up previously from $88.00. Separately, analysts at Barclays raised their price target on shares of Illinois Tool Works from $81.00 to $91.00 in a research note to investors on Monday, January 13th. They now have an “equal weight” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Illinois Tool Works from $90.00 to $97.00 in a research note to investors on Tuesday, December 31st. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $84.00.
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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