ITT’s (ITT) Buy Rating Reiterated at KeyCorp
ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report issued on Friday. KeyCorp also issued estimates for ITT’s Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $2.53 EPS and FY2018 earnings at $2.85 EPS.
Several other equities research analysts also recently issued reports on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price target (up previously from $51.00) on shares of ITT in a report on Thursday. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, October 12th. Deutsche Bank AG raised ITT from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $55.00 in a report on Monday, October 9th. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price target on shares of ITT in a report on Thursday, September 21st. Finally, ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. ITT has an average rating of “Buy” and a consensus price target of $49.40.
ITT (ITT) traded up $4.52 during midday trading on Friday, hitting $51.32. The stock had a trading volume of 1,219,571 shares, compared to its average volume of 701,991. The firm has a market cap of $4.53 billion, a P/E ratio of 21.19, a PEG ratio of 1.37 and a beta of 1.53. ITT has a 12 month low of $32.46 and a 12 month high of $53.00.
ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $605.06 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. analysts expect that ITT will post 2.51 EPS for the current fiscal year.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total transaction of $214,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of ITT. BlackRock Inc. increased its position in ITT by 10,370.9% during the 1st quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares during the period. Janus Henderson Group PLC bought a new position in ITT during the 2nd quarter worth $122,628,000. Wedge Capital Management L L P NC bought a new position in ITT during the 2nd quarter worth $27,785,000. LSV Asset Management increased its position in ITT by 57.1% during the 2nd quarter. LSV Asset Management now owns 1,614,577 shares of the conglomerate’s stock worth $64,873,000 after buying an additional 587,000 shares during the period. Finally, Channing Capital Management LLC increased its position in ITT by 271.6% during the 2nd quarter. Channing Capital Management LLC now owns 564,125 shares of the conglomerate’s stock worth $22,667,000 after buying an additional 412,332 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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