ITG (NASDAQ:ITG) Given New $8.00 Price Target at Stifel Nicolaus

ITG (NASDAQ:ITG) had its target price decreased by Stifel Nicolaus from $9.00 to $8.00 in a report published on Friday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts also recently commented on ITG. Wall Street Zen downgraded shares of ITG from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Bank of America dropped their target price on shares of ITG from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday. Zacks Research raised shares of ITG to a “hold” rating in a report on Tuesday, July 28th. Vertical Research started coverage on shares of ITG in a report on Monday, July 27th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group began coverage on shares of ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $18.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ITG presently has an average rating of “Moderate Buy” and an average target price of $12.00.

ITG Price Performance

Shares of ITG stock traded up $0.38 during midday trading on Friday, hitting $5.68. 1,652,234 shares of the company were exchanged, compared to its average volume of 834,312. The company has a debt-to-equity ratio of 23.48, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market capitalization of $705.23 million and a price-to-earnings ratio of 71.00. ITG has a 52 week low of $4.11 and a 52 week high of $19.26. The firm has a 50 day simple moving average of $7.93.

ITG (NASDAQ:ITG) last announced its quarterly earnings results on Wednesday, November 11th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $461.53 million during the quarter. Equities research analysts expect that ITG will post 0.54 earnings per share for the current year.

Institutional Trading of ITG

An institutional investor recently bought a new stake in ITG stock. State Street Corp bought a new stake in ITG Inc. (NASDAQ:ITG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 271,008 shares of the company’s stock, valued at approximately $2,107,000. State Street Corp owned approximately 0.22% of ITG as of its most recent filing with the Securities and Exchange Commission (SEC).

Key ITG News

These are some of the ITG news items that stood out recently:

• Positive Sentiment: Other firms also retained positive ratings: Stifel kept Buy with an $8 target, Bank of America kept Buy at $13, Baird kept Outperform at $10, and Morgan Stanley kept Overweight at $9. These targets remain above the reference share price. Bank of America Price Target
• Neutral Sentiment: ITG reported quarterly EPS of $0.22 and revenue of $461.53 million. The available report does not provide comparisons with estimates or prior-year results to indicate whether the figures were a surprise. ITG Quarterly Earnings Results
• Negative Sentiment: Multiple target reductions point to weaker analyst expectations: Truist cut to $11 from $14, Stifel to $8 from $9, Bank of America to $13 from $16, KeyCorp to $10 from $13, Baird to $10 from $14, and Morgan Stanley to $9 from $18. These revisions may weigh on sentiment even though the firms retained bullish ratings. Morgan Stanley Price Target Revision

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.