ITG (NASDAQ:ITG) Stock Gets Price Target Cut from Robert W. Baird

ITG (NASDAQ:ITG) had its price target trimmed by Robert W. Baird from $14.00 to $10.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

ITG has been the subject of several other reports. Weiss Ratings initiated coverage on shares of ITG in a research report on Friday, September 25th. They set a “sell (e-)” rating for the company. Wall Street Zen downgraded shares of ITG from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Bank of America assumed coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $16.00 price objective for the company. Vertical Research initiated coverage on ITG in a research note on Monday, July 27th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group started coverage on ITG in a research report on Monday, July 27th. They set a “buy” rating and a $18.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ITG has an average rating of “Moderate Buy” and an average target price of $12.00.

ITG Trading Up 7.2%

Shares of NASDAQ:ITG traded up $0.38 on Thursday, reaching $5.68. The company had a trading volume of 1,652,234 shares, compared to its average volume of 834,312. ITG has a 52-week low of $4.11 and a 52-week high of $19.26. The business has a 50 day moving average of $7.93. The firm has a market capitalization of $705.23 million and a price-to-earnings ratio of 71.00. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 23.48.

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

Institutional Investors Weigh In On ITG

An institutional investor recently bought a new stake in ITG stock. State Street Corp bought a new stake in ITG Inc. (NASDAQ:ITG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 271,008 shares of the company’s stock, valued at approximately $2,107,000. State Street Corp owned 0.22% of ITG at the end of the most recent reporting period.

Key Stories Impacting ITG

These are some of the ITG stories 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.