Stifel Nicolaus Believes ITT Corp (ITT) Still Has Room to Grow


Stifel Nicolaus analyst Nathan Jones reiterated a Buy rating on ITT Corp (NYSE: ITT) yesterday and set a price target of $68. The company’s shares closed on Friday at $61.54, close to its 52-week high of $62.18.

According to TipRanks.com, Jones is a 4-star analyst with an average return of 9.1% and a 61.7% success rate. Jones covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Illinois Tool Works, and Sun Hydraulics Corp.

Currently, the analyst consensus on ITT Corp is a Strong Buy with an average price target of $67, an 8.9% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $67 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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