Investment Technology Group Lowered to “Neutral” at Zacks (ITG)
Investment Technology Group (NYSE:ITG) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday. They currently have a $19.30 price target on the stock. Zacks‘s price target would suggest a potential upside of 12.73% from the company’s current price.
Shares of Investment Technology Group (NYSE:ITG) traded up 1.42% on Tuesday, hitting $17.12. The stock had a trading volume of 402,813 shares. Investment Technology Group has a 52-week low of $14.07 and a 52-week high of $20.87. The stock’s 50-day moving average is $18.28 and its 200-day moving average is $18.64. The company has a market cap of $616.3 million and a price-to-earnings ratio of 17.46.
Investment Technology Group (NYSE:ITG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.05. The company had revenue of $137.60 million for the quarter, compared to the consensus estimate of $142.12 million. During the same quarter last year, the company posted $0.24 earnings per share. Investment Technology Group’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Investment Technology Group will post $1.21 earnings per share for the current fiscal year.
ITG has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Investment Technology Group from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $19.00 price target on the stock, down previously from $23.00.
Investment Technology Group, Inc (NYSE:ITG) is an independent execution and research broker that partners with global portfolio managers and traders to provide data-driven insights throughout the investment process.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.