Seaport Global analyst Walter Liptak reiterated a Buy rating on ITT Corp (NYSE: ITT) today and set a price target of $69. The company’s shares opened today at $62.57, close to its 52-week high of $63.04.
According to TipRanks.com, Liptak is a 4-star analyst with an average return of 9.8% and a 65.3% success rate. Liptak covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, John Bean Technologies, and Franklin Electric Co.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ITT Corp with a $68.33 average price target, representing a 9.2% upside. In a report issued on August 3, Robert W. Baird also reiterated a Buy rating on the stock with a $68 price target.
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Based on ITT Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $69.7 million. In comparison, last year the company had a net profit of $47.8 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Denise L. Ramos, the Chief Executive Officer and President of ITT sold 105,295 shares for a total of $5,552,991.
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ITT, Inc. engages in the provision of engineering and technology. Its activities include manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets.
