ITT (NYSE:ITT) received a $68.00 target price from analysts at Oppenheimer in a report issued on Thursday. The brokerage presently has a “buy” rating on the conglomerate’s stock. Oppenheimer’s price target would indicate a potential upside of 34.02% from the company’s current price.

ITT has been the subject of a number of other research reports. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 18th. Gordon Haskett began coverage on shares of ITT in a research note on Friday, October 12th. They issued a “buy” rating for the company. ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price target on shares of ITT in a research report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $64.38.

ITT stock opened at $50.74 on Thursday. ITT has a fifty-two week low of $44.89 and a fifty-two week high of $63.04. The company has a market cap of $4.42 billion, a PE ratio of 19.59, a P/E/G ratio of 1.14 and a beta of 1.66.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. ITT had a net margin of 7.80% and a return on equity of 16.10%. The firm had revenue of $680.60 million during the quarter, compared to the consensus estimate of $677.36 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that ITT will post 3.15 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of ITT. FMR LLC grew its holdings in shares of ITT by 17.4% during the second quarter. FMR LLC now owns 6,671,943 shares of the conglomerate’s stock valued at $348,743,000 after buying an additional 987,111 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of ITT by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 34,248 shares of the conglomerate’s stock valued at $1,790,000 after buying an additional 986 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of ITT by 94.6% during the second quarter. OppenheimerFunds Inc. now owns 516,914 shares of the conglomerate’s stock valued at $27,018,000 after buying an additional 251,322 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of ITT during the second quarter valued at $2,719,000. Finally, Bank of America Corp DE grew its holdings in shares of ITT by 2.5% during the second quarter. Bank of America Corp DE now owns 1,055,247 shares of the conglomerate’s stock valued at $55,157,000 after buying an additional 25,508 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors and hedge funds.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Analyst Recommendations for ITT (NYSE:ITT)

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