Weekly Analysts’ Ratings Changes for ITT (ITT)

Several brokerages have updated their recommendations and price targets on shares of ITT (NYSE: ITT) in the last few weeks:

  • 1/9/2018 – ITT was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ITT Inc. has a robust earnings surprise history, having beaten estimates all through in the trailing four quarters. Also, the company’s current year estimates have moved north over the past couple of months. The company has been enjoying broad-based strength in transportation and chemical markets, and benefits from the Axtone buyout. The company raised both its earnings and revenue guidance for 2017, on the back of order growth and operational momentum. Consequently, ITT’s shares have surpassed the industry average over the past year. However, lower mining activity levels restricted growth at Industrial Process segment. Also, weaker upstream and midstream project activity hurt performance in the oil and gas market. Going forward, softness in aerospace and defense market, restrained client spending and higher commodity costs might restrict the company’s growth meaningfully.”
  • 1/8/2018 – ITT was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “ITT Inc. has a robust earnings surprise history, having beaten estimates all through in the trailing four quarters. Also, the company’s current year estimates have moved north over the past couple of months. The company has been enjoying broad-based strength in transportation and chemical markets, and benefits from the Axtone buyout. The company raised both its earnings and revenue guidance for 2017, on the back of order growth and operational momentum. Consequently, ITT’s shares have surpassed the industry average over the past year. ITT Inc. has achieved operational excellence through its Lean Six Sigma program, restructuring initiatives and global sourcing efforts. However, lower mining activity levels restricted growth at Industrial Process segment. Also, weaker upstream and midstream project activity hurt performance in the oil and gas market. Also, sluggish aerospace and defense business might add to the company’s woes.”
  • 1/3/2018 – ITT was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ITT Inc. has a robust earnings surprise history, having beaten estimates all through in the trailing four quarters. Also, the company’s current year estimates have moved north over the past couple of months. The company has been enjoying broad-based strength in transportation and chemical markets, and benefits from the Axtone buyout. The company raised both its earnings and revenue guidance, on the back of order growth and operational momentum. Consequently, ITT’s shares have surpassed the industry average over the past year. However, lower mining activity levels restricted growth at Industrial Process segment. Also, weaker upstream and midstream project activity hurt performance in the oil and gas market. Going forward, softness in aerospace and defense market, restrained client spending and higher commodity costs might restrict the company’s growth meaningfully.”
  • 1/2/2018 – ITT was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “ITT Inc. has a robust earnings surprise history, having beaten estimates all through in the trailing four quarters. Also, the company’s current year estimates have moved north over the past couple of months. The company has been enjoying broad-based strength in transportation and chemical markets, and benefits from the Axtone buyout. The company raised both its earnings and revenue guidance for 2017, on the back of order growth and operational momentum. Also, the company’s comprehensive three-pronged growth strategy, involving optimizing execution, effective capital deployment and market expansion, is expected to bolster its financials. Consequently, ITT’s shares have surpassed the industry average over the past year. However, softness in aerospace and defense market, restrained client spending and higher commodity costs might restrict the company’s growth meaningfully.”
  • 12/1/2017 – ITT was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/20/2017 – ITT was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ITT’s third-quarter 2017 adjusted earnings beat the Zacks Consensus Estimate by 8.2% and rose 13.2% year over year, on the back of strong growth in top line. Growth in revenues was driven by broad-based strength in transportation and chemical markets, and benefits from the Axtone buyout. The company raised both its earnings and revenue guidance for 2017, on the back of order growth and operational momentum. Consequently, ITT’s shares have surpassed the industry average over the past year. However, lower mining activity levels restricted growth at Industrial Process segment. Also, weaker upstream and midstream project activity hurt performance in the oil and gas market. Going forward, softness in aerospace and defense market, restrained client spending and higher commodity costs might restrict the company’s growth meaningfully.”

Shares of ITT Inc. (ITT) traded up $0.69 during mid-day trading on Tuesday, reaching $54.78. 622,900 shares of the company’s stock traded hands, compared to its average volume of 667,340. The stock has a market cap of $4,820.00, a PE ratio of 24.03, a P/E/G ratio of 1.45 and a beta of 1.59. ITT Inc. has a 1-year low of $36.93 and a 1-year high of $55.05.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $605.06 million. ITT had a net margin of 8.29% and a return on equity of 14.12%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. equities research analysts predict that ITT Inc. will post 2.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were paid a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, December 7th. ITT’s payout ratio is currently 22.37%.

In other news, insider Denise L. Ramos sold 161,100 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $50.14, for a total value of $8,077,554.00. Following the sale, the insider now directly owns 283,032 shares in the company, valued at approximately $14,191,224.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Steven C. Giuliano sold 5,860 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $50.94, for a total transaction of $298,508.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,960 shares of company stock worth $8,630,962. Corporate insiders own 1.20% of the company’s stock.

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.

Receive News & Ratings for ITT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit