ITG (NASDAQ:ITG) Stock Gets Price Target Reduction from Citigroup

ITG (NASDAQ:ITG) had its price target cut by Citigroup from $17.00 to $9.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Wall Street Zen cut shares of ITG from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Truist Financial lowered their price target on shares of ITG from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Bank of America initiated coverage on shares of ITG in a research report on Monday, July 27th. They set a “buy” rating and a $16.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of ITG from $16.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Finally, Weiss Ratings started coverage on shares of ITG in a report on Friday, September 25th. They issued a “sell (e-)” rating for the company. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.11.

ITG Price Performance

NASDAQ ITG opened at $5.07 on Friday. The company has a debt-to-equity ratio of 23.48, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a fifty day moving average price of $10.10. ITG has a 1 year low of $4.59 and a 1 year high of $19.26. The firm has a market cap of $629.49 million and a P/E ratio of 63.38.

ITG (NASDAQ:ITG) last issued its quarterly earnings results on Monday, June 22nd. The company reported ($0.08) EPS for the quarter. The business had revenue of $333.92 million during the quarter. Research analysts expect that ITG will post 0.54 earnings per share for the current year.

About ITG

Investment Technology Group, Inc (NASDAQ: ITG) was a financial technology company that provided electronic trading, brokerage, and investment research services to institutional investors. Its clients included asset managers, hedge funds, broker-dealers, and other financial institutions seeking technology and execution services for trading equities and other securities.

ITG’s products and services included electronic trading platforms, algorithmic trading tools, transaction-cost analysis, portfolio and trading analytics, and outsourced trading support.