ITT Corporation (ITT) : Analyst Rating Update

ITT Corporation (ITT) : The consensus on ITT Corporation (ITT) based on 12 analyst recommendation on the company stock is 2.33, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

ITT Corporation (ITT) : Currently there are 9 street experts covering ITT Corporation (ITT) stock. The most bullish and bearish price target for the stock is $46 and $32 respectively for the short term. The average price target of all the analysts comes to $39.56. The estimated standard deviation from the target is $3.84.

ITT Corporation (NYSE:ITT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.47 and $30.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.80, notching a gain of 0.20% for the day. The total traded volume was 599,919 . The stock had closed at $30.74 on the previous day.

Also, Seaport Global upgrades its view on ITT Corporation (NYSE:ITT) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Accumulate. Seaport Global raises the price target from $37 per share to $41 per share on ITT Corporation. The rating by the firm was issued on June 10, 2016. The company shares have dropped -22.53% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $40.98 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $34.47 and the 200 Day Moving Average price is recorded at $35.00.

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Companys product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts. Motion Technologies manufactures brake components, shock absorbers and damping technologies for the automotive, truck and trailer, public bus and rail transportation markets. Interconnect Solutions manufactures and designs a range of engineered connector solutions that makes it possible to transfer signal and power between electronic devices. Control Technologies manufactures equipment, including actuation, valves, and noise and energy absorption components for the aerospace and defense, and industrial markets.

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