ITG (NASDAQ:ITG) Releases Quarterly Earnings Results

ITG (NASDAQ:ITG) issued its earnings results on Wednesday. The company reported $0.22 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $461.53 million for the quarter.

Here are the key takeaways from ITG’s conference call:

• Q3 revenue rose 49% year over year to a record, with growth across all business lines; adjusted EBITDA increased 63% and margin expanded 120 basis points to 14%. Management attributed results to organic growth, acquisitions, seasonal project activity, and data center work.
• Next Twelve Month Backlog reached $1.54 billion, up 27% year over year, with about $237 million in new awards during the quarter. Data center work remains a significant opportunity, with roughly $500 million of scoped backlog and additional bids outstanding, though new awards in that market were limited in Q3.
• Management maintained its 2026 growth outlook of 37% for both revenue and adjusted EBITDA, and said it remains confident in its previously communicated 2027 plans. The company cited new-customer wins and work moving from design into construction, while noting that project timing and customer authorizations can affect results.
• Free cash flow was notably negative in Q3, reflecting acquired working capital, seasonal work-in-progress growth, slower invoicing, and higher-than-planned capital spending. Management expects cash flow to improve in Q4 and says positive free cash flow is possible in 2027, but it has not yet provided a formal 2027 forecast.
• Fuel and healthcare costs are pressuring margins, and management said fuel inflation has not been fully recovered through customer pricing. It expects to pursue contract rate adjustments and operational efficiencies, but the timing and extent of any offset remain uncertain.

ITG Stock Performance

ITG traded up $0.07 during midday trading on Thursday, reaching $5.21. 443,040 shares of the company were exchanged, compared to its average volume of 517,003. The company has a market cap of $646.24 million and a P/E ratio of 65.25. ITG has a one year low of $4.11 and a one year high of $19.26. The stock has a fifty day moving average of $8.23. The company has a debt-to-equity ratio of 23.48, a quick ratio of 2.80 and a current ratio of 2.80.

More ITG News

Here’s some of the latest news about ITG:

• Positive Sentiment: ITG reported record third-quarter revenue and adjusted EBITDA above its outlook. Adjusted EBITDA rose 64%, and the company raised its fiscal 2026 outlook to approximately 37% growth in both revenue and adjusted EBITDA. ITG third-quarter results
• Positive Sentiment: Bank of America cut its price target to $13 from $16 but kept a Buy rating. KeyCorp lowered its target to $10 from $13 while retaining Overweight; Baird reduced its target to $10 from $14 and kept Outperform; Morgan Stanley cut its target to $9 from $18 but maintained Overweight. The continued bullish ratings and targets well above the recent share price offer support, though the reductions temper that optimism. Bank of America rating
• Negative Sentiment: The quarter included a reported loss, despite the increase in adjusted EBITDA. Separately, all four cited analysts lowered their price targets, signaling more cautious assumptions about ITG’s valuation or outlook. ITG Q3 results

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in ITG stock. Pictet Asset Management Holding SA purchased a new position in shares of ITG Inc. (NASDAQ:ITG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 659,623 shares of the company’s stock, valued at approximately $5,129,000. Pictet Asset Management Holding SA owned approximately 0.53% of ITG at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITG. Truist Financial reduced their price target on shares of ITG from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Robert W. Baird lowered their price objective on shares of ITG from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday. Morgan Stanley lowered their price objective on shares of ITG from $18.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group started coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, KeyCorp dropped their price objective on shares of ITG from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.44.

ITG Company Profile

Investment Technology Group, Inc. (ITG) was a financial technology and agency brokerage firm serving institutional investors. Its services included trade execution, execution algorithms, trading analytics and tools designed to help clients manage and evaluate their equity trading. ITG’s products included POSIT, an alternative trading system that matched buyers and sellers, and Triton, an execution management system. The company also provided transaction-cost analysis and related research to help clients assess trading performance.