Citigroup Issues Positive Forecast for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price objective hoisted by research analysts at Citigroup from $176.00 to $183.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Citigroup’s price objective would indicate a potential upside of 18.67% from the company’s current price.

Several other brokerages also recently issued reports on ITT. Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. TD Cowen upped their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group boosted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.13.

ITT Stock Performance

ITT opened at $154.21 on Monday. ITT has a 1-year low of $111.96 and a 1-year high of $161.13. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.02 and a beta of 1.40. The company’s fifty day moving average price is $150.91 and its two-hundred day moving average price is $140.25. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 EPS. On average, analysts expect that ITT will post 5.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Asset Management Inc. purchased a new stake in ITT in the third quarter worth $67,503,000. Mawer Investment Management Ltd. purchased a new stake in ITT in the 2nd quarter worth about $49,043,000. Select Equity Group L.P. raised its stake in ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after acquiring an additional 351,206 shares during the period. Millennium Management LLC lifted its holdings in ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.