In a report issued on May 4, Nathan Jones from Stifel Nicolaus maintained a Buy rating on ITT (ITT – Research Report), with a price target of $88.00. The company’s shares closed last Friday at $71.68, close to its 52-week low of $68.80.
According to TipRanks.com, Jones is a 5-star analyst with an average return of 10.5% and a 54.6% success rate. Jones covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Circor International.
Currently, the analyst consensus on ITT is a Strong Buy with an average price target of $95.57, a 30.4% upside from current levels. In a report issued on May 3, Robert W. Baird also maintained a Buy rating on the stock with a $84.00 price target.
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Based on ITT’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $726 million and net profit of $74.8 million. In comparison, last year the company earned revenue of $698 million and had a net profit of $86.2 million.
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ITT, Inc. engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation. The Industrial Process segment includes engineered fluid process equipment in areas such as chemical, oil and gas, mining, and other industrial process markets as well as providing of plant optimization and efficiency solutions and aftermarket services and parts. The Connect and Control Technologies segment offers harsh-environment connector solutions and critical energy absorption and flow control components for the aerospace and defense, general industrial, medical, and oil and gas markets. The company was founded in 1920 and is headquartered in White Plains, NY.
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