ITG (NASDAQ:ITG – Get Free Report) had its target price dropped by research analysts at Morgan Stanley from $18.00 to $9.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley‘s price objective points to a potential upside of 75.44% from the company’s previous close.
ITG has been the subject of several other reports. Citigroup decreased their target price on ITG from $17.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. UBS Group assumed 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. Truist Financial reduced their price objective on shares of ITG from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Weiss Ratings began coverage on shares of ITG in a report on Friday, September 25th. They set a “sell (e-)” rating for the company. Finally, Bank of America began coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $16.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ITG currently has an average rating of “Moderate Buy” and a consensus price target of $13.11.
Read Our Latest Stock Analysis on ITG
ITG Trading Down 3.9%
Shares of NASDAQ ITG opened at $5.13 on Thursday. ITG has a 1 year low of $4.11 and a 1 year high of $19.26. The company has a 50-day simple moving average of $8.23. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 23.48. The company has a market cap of $636.94 million and a price-to-earnings ratio of 64.12.
ITG (NASDAQ:ITG – Get Free Report) last released its 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. As a group, equities research analysts anticipate that ITG will post 0.54 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in ITG stock. State Street Corp bought a new stake in ITG Inc. (NASDAQ:ITG – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.
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.
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