ITG (NASDAQ:ITG) Stock Gets Price Target Cut from Bank of America

ITG (NASDAQ:ITG) had its price target reduced by Bank of America from $16.00 to $13.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

ITG has been the subject of several other research reports. UBS Group assumed coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $18.00 target price for the company. Morgan Stanley cut their price objective on shares of ITG from $18.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial reduced their price objective on shares of ITG from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Citigroup lowered their target price on shares of ITG from $17.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, Zacks Research upgraded ITG to a “hold” rating in a research report on Tuesday, July 28th. Nine research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

ITG Stock Performance

NASDAQ:ITG traded up $0.38 during trading hours on Thursday, reaching $5.68. The stock had a trading volume of 1,652,234 shares, compared to its average volume of 834,312. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 23.48. The stock has a 50 day moving average of $7.93. ITG has a 12-month low of $4.11 and a 12-month high of $19.26. The firm has a market capitalization of $705.23 million and a PE ratio of 71.00.

ITG (NASDAQ:ITG) last issued its quarterly earnings results on Wednesday, November 11th. The company reported $0.22 EPS for the quarter. The firm had revenue of $461.53 million for the quarter. On average, equities analysts expect that ITG will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITG

An institutional investor recently bought a new stake in ITG stock. State Street Corp acquired a new stake in shares of ITG Inc. (NASDAQ:ITG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 271,008 shares of the company’s stock, valued at approximately $2,107,000. State Street Corp owned approximately 0.22% of ITG at the end of the most recent quarter.

Recent ITG Headlines

These are some of the ITG headlines that stood out recently:

• Positive Sentiment: Despite lowering its target to $11 from $14, Truist reaffirmed its Buy rating. The new target remains well above the $5.68 reference price. Truist Cuts Price Target on ITG to $11 From $14, Keeps Buy Rating
• 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

About ITG

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.