ITT (NYSE:ITT) Rating Increased to Buy at StockNews.com

ITT (NYSE:ITT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently weighed in on ITT. Stifel Nicolaus boosted their price target on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird reduced their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, KeyCorp raised their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Up 1.0 %

ITT opened at $144.30 on Wednesday. The company’s 50 day moving average is $150.41 and its 200-day moving average is $141.42. The company has a market cap of $11.76 billion, a P/E ratio of 24.62, a PEG ratio of 1.99 and a beta of 1.40. ITT has a 1-year low of $113.70 and a 1-year high of $161.13. 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 announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period in the prior year, the business earned $1.37 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that ITT will post 5.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV bought a new stake in ITT in the third quarter valued at $30,000. Headlands Technologies LLC acquired a new position in shares of ITT during the second quarter valued at about $32,000. UMB Bank n.a. boosted its position in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in ITT in the 2nd quarter valued at about $36,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.