Credit Suisse Group AG Reiterates “$20.00” Price Target for Investment Technology Group Inc. (ITG)
Investment Technology Group Inc. (NYSE:ITG) has been given a $20.00 price target by equities researchers at Credit Suisse Group AG in a report released on Monday. The brokerage currently has a a “buy” rating on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 18.13% from the company’s current price.
Several other research firms have also recently issued reports on ITG. JPMorgan Chase & Co. cut their price objective on Investment Technology Group from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. TheStreet cut Investment Technology Group from a “buy” rating to a “hold” rating in a research report on Monday, August 8th.
Investment Technology Group (NYSE:ITG) traded down 1.95% on Monday, hitting $16.60. The stock had a trading volume of 181,149 shares. Investment Technology Group has a one year low of $13.70 and a one year high of $22.92. The stock’s 50 day moving average is $16.13 and its 200 day moving average is $17.72. The stock has a market cap of $546.26 million, a price-to-earnings ratio of 7.22 and a beta of 1.32.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/credit-suisse-group-ag-reiterates-20-00-price-target-for-investment-technology-group-inc-itg.html
Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. Investment Technology Group had a return on equity of 0.35% and a net margin of 13.11%. The company had revenue of $120.60 million for the quarter, compared to analysts’ expectations of $115.73 million. During the same quarter last year, the company earned $0.32 EPS. Investment Technology Group’s revenue for the quarter was down 14.2% compared to the same quarter last year. Analysts anticipate that Investment Technology Group will post ($0.01) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of ITG. Virginia Retirement System purchased a new stake in Investment Technology Group during the first quarter valued at $491,000. Bank of New York Mellon Corp raised its stake in Investment Technology Group by 204.1% in the second quarter. Bank of New York Mellon Corp now owns 1,720,755 shares of the company’s stock valued at $28,772,000 after buying an additional 1,154,918 shares during the period. Westpac Banking Corp raised its stake in Investment Technology Group by 12.8% in the second quarter. Westpac Banking Corp now owns 74,894 shares of the company’s stock valued at $1,252,000 after buying an additional 8,489 shares during the period. Eqis Capital Management Inc. purchased a new stake in Investment Technology Group during the second quarter valued at $319,000. Finally, Wellington Management Group LLP raised its stake in Investment Technology Group by 378.1% in the first quarter. Wellington Management Group LLP now owns 2,525,162 shares of the company’s stock valued at $55,806,000 after buying an additional 1,997,024 shares during the period. 90.26% of the stock is currently owned by institutional investors.
About Investment Technology Group
Receive News & Ratings for Investment Technology Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investment Technology Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.