Investment Technology Group (NYSE:ITG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The firm presently has a $25.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.39% from the stock’s current price.
According to Zacks, “Investment Technology Group is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG’s services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk. “
Several other analysts also recently issued reports on ITG. Citigroup raised shares of Investment Technology Group to a “buy” rating in a research report on Friday, March 2nd. Rosenblatt Securities upgraded Investment Technology Group from a “neutral” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, ValuEngine cut Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.
Investment Technology Group opened at $21.48 on Wednesday, according to Marketbeat.com. Investment Technology Group has a 12-month low of $17.63 and a 12-month high of $23.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.45. The firm has a market capitalization of $719.77 million, a P/E ratio of 50.70 and a beta of 1.38.
Investment Technology Group (NYSE:ITG) last posted its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.13. Investment Technology Group had a negative net margin of 8.17% and a positive return on equity of 3.88%. The business had revenue of $131.48 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter last year, the firm posted $0.16 EPS. Investment Technology Group’s revenue was up 8.8% compared to the same quarter last year. sell-side analysts expect that Investment Technology Group will post 1.32 earnings per share for the current year.
A number of large investors have recently modified their holdings of ITG. SG Americas Securities LLC bought a new position in Investment Technology Group during the 1st quarter valued at $111,000. Teacher Retirement System of Texas bought a new position in Investment Technology Group during the 4th quarter valued at $207,000. UBS Asset Management Americas Inc. bought a new position in Investment Technology Group during the 4th quarter valued at $227,000. Quantitative Systematic Strategies LLC bought a new position in Investment Technology Group during the 1st quarter valued at $267,000. Finally, AXA bought a new position in Investment Technology Group during the 4th quarter valued at $323,000. Institutional investors and hedge funds own 85.08% of the company’s stock.
About Investment Technology Group
Investment Technology Group, Inc operates as a financial technology company in the United States, Canada, Europe, and the Asia Pacific. The company offers various solutions for asset managers and broker-dealers in the areas of execution services, workflow technology, and analytics that provide trade execution services and solutions for portfolio management, as well as pre-trade analytics, and post-trade analytics and processing.
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