Breaking: After Achieving 52-Week High, Is ITT Inc.’s Near-Term Analysis Positive?

Breaking: After Achieving 52 Week High, Is ITT Inc.'s Near Term Analysis Positive?

The stock of ITT Inc. (NYSE:ITT) hit a new 52-week high and has $45.15 target or 7.00% above today’s $42.20 share price. The 8 months bullish chart indicates low risk for the $3.56B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $45.15 price target is reached, the company will be worth $249.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 606,485 shares traded hands. ITT Inc. (NYSE:ITT) has risen 5.05% since April 28, 2016 and is uptrending. It has underperformed by 0.88% the S&P500.

Analysts await ITT Inc. (NYSE:ITT) to report earnings on February, 10. They expect $0.46 earnings per share, down 20.69% or $0.12 from last year’s $0.58 per share. ITT’s profit will be $38.81 million for 22.93 P/E if the $0.46 EPS becomes a reality. After $0.58 actual earnings per share reported by ITT Inc. for the previous quarter, Wall Street now forecasts -20.69% negative EPS growth.

ITT Inc. (NYSE:ITT) Ratings Coverage

Out of 4 analysts covering ITT Corp (NYSE:ITT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. ITT Corp has been the topic of 10 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, June 10 by Seaport Global. The stock has “Equalweight” rating given by Barclays Capital on Monday, July 18. Cowen & Co maintained the shares of ITT in a report on Tuesday, September 1 with “Outperform” rating. KeyBanc Capital Markets reinitiated the stock with “Sector Weight” rating in Wednesday, June 29 report. On Thursday, October 15 the stock rating was initiated by Avondale with “Market Perform”. On Monday, October 5 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The company was upgraded on Monday, November 7 by KeyBanc Capital Markets. Barclays Capital upgraded ITT Inc. (NYSE:ITT) on Monday, October 24 to “Overweight” rating.

According to Zacks Investment Research, “ITT Inc. is a manufacturer of engineered critical components and customized technology solutions for the energy, transportation and industrial markets. ITT Inc., formerly known as ITT Corporation, is headquartered in White Plains, New York.”

Insitutional Activity: The institutional sentiment decreased to 0 in 2016 Q2. Its down 0.01, from 0.01 in 2016Q1. The ratio worsened, as 253 funds sold all ITT Inc. shares owned while 4 reduced positions. 0 funds bought stakes while 2 increased positions. They now own 171,152 shares or 99.79% less from 81.41 million shares in 2016Q1.
Hancock Com holds 11,284 shares or 0.02% of its portfolio. Tradewinds Management Ltd Liability Company holds 0% of its portfolio in ITT Inc. (NYSE:ITT) for 16 shares. Gemmer Asset Mgmt Lc has 0.01% invested in the company for 372 shares. Management Communications has 305 shares for 0% of their US portfolio. Huntington Fincl Bank accumulated 23,991 shares or 0.02% of the stock. United Fire last reported 1,250 shares in the company. Meeder Asset accumulated 7,182 shares or 0.02% of the stock. Dreman Value Mgmt L L C has 247 shares for 0% of their US portfolio. Great West Life Assurance Can reported 11,208 shares or 0% of all its holdings. Covington Investment Advisors Inc accumulated 0.51% or 36,297 shares. Vantage Advisors Limited Company has invested 0% of its portfolio in ITT Inc. (NYSE:ITT). Fourpoints Inv Managers Sas has 78,100 shares for 1.75% of their US portfolio.

Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 2 sales for $2.51 million net activity. $2.16 million worth of shares were sold by Chicles Aris C on Tuesday, November 15. Scalera Thomas M also sold $353,780 worth of ITT Inc. (NYSE:ITT) on Thursday, November 10.

Another recent and important ITT Inc. (NYSE:ITT) news was published by Pionline.com which published an article titled: “ITT Inc. offers lump sum to former employees” on November 04, 2016.

ITT Company Profile

ITT Inc. is a diversified maker of engineered components and customized technology solutions for the energy, transportation and industrial markets. The Firm makes components that are integral to the operation of systems and manufacturing processes in its markets. The Company’s product and service offerings are organized into four divisions: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies.

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