|Over a week ago|
ITT price target lowered to $100 from $110 at DA Davidson » 08:4506/2106/21/22
DA Davidson analyst Matt…
DA Davidson analyst Matt Summerville lowered the firm's price target on ITT to $100 from $110 to reflect the recent multiple compression in the market overall as well as the industrial tech space but keeps a Buy rating on the shares after meeting with its executive team last week. The discussions have given him a more thorough grasp of the company's core strengths and opportunities, along with some "incremental learnings" about key customer wins and strengthening tailwinds, the analyst tells investors in a research note.
ITT remains a top idea following analyst day, says Baird » 07:1206/1706/17/22
Baird analyst Michael…
Baird analyst Michael Halloran said ITT hosted its first analyst day since 2011 in which management showcased growth drivers across segments, products, and/markets including updates on cyclical and secular trends, reiterated the commitment to M&A, highlighted its best-in-class execution, and provided a long-term financial framework. The analyst noted ITT's balance sheet is an underappreciated lever which is robust enough to manage organic investments, M&A, dividends, and share repurchases simultaneously. Halloran reiterated his Outperform rating and $84 price target on ITT shares.
Fly Intel: Pre-market Movers » 08:5706/1606/16/22
TWTR, CMRA, SIDU, CMCI, ITT, REV, WBD, ABT, ACIU, TSLA, EBIX
Check out this morning's…
ITT sees long-term adjusted EPS growth of 10%, revenue growth of 5%-7% » 06:3306/1606/16/22
ITT will host its…
ITT will host its investor conference and deliver a series of presentations focusing on its strategic priorities, innovative technologies, long-term vision, and financial framework at 1 PM ET on June 16th. In connection with the conference, ITT also announced long-term financial targets, which comprise 5-7% revenue growth, 20% adjusted segment operating margin, over 10% adjusted EPS growth, and a free cash flow margin range of 11%-13%, all based on actual results for the year 2021. The company will also host an interactive technology demonstration at the event, which will take place at Current at Chelsea Piers in New York, NY.
ITT acquires manufacturing capacity with investment in CRP » 07:0506/1406/14/22
ITT announced its…
ITT announced its investment in CRP Technology and CRP USA . CRP is an industry leader in developing and manufacturing reinforced composite materials for 3D printing for the aerospace, defense, premium automotive, and motorsports industries. The company's Windform high-performance materials enable engineers to develop complex, customized designs while providing lightweight and exceptionally durable products. With this investment, ITT owns 46% of CRP Technology and 33% of CRP USA. "CRP is a smart investment for ITT. With almost three decades of leadership and innovation in additive manufacturing, CRP enables ITT to expand its position in material science and gain hands-on experience with additive manufacturing as the industries we serve continue to transform," said Luca Savi, Chief Executive Officer and President of ITT. "We are proud to partner with CRP as they continue to grow and deliver industry-changing innovations. Together, ITT and CRP can bring to market new products that deliver sustainable, lightweight, durable solutions for our customers."
ITT price target lowered to $92 from $105 at Cowen » 07:4006/1306/13/22
Cowen analyst Joseph…
Cowen analyst Joseph Giordano lowered the firm's price target on ITT to $92 from $105 and keeps an Outperform rating on the shares. The analyst believes the company is poised to capitalize on strength in energy/chemical markets and recoveries in commercial aerospace and automotive while its respected leadership team begins deploying the now asbestos-free balance sheet after many years of minimal activity.
|Over a month ago|
ITT price target lowered to $84 from $90 at Baird » 06:5205/0405/04/22
Baird analyst Michael…
Baird analyst Michael Halloran lowered the firm's price target on ITT to $84 from $90 and keeps an Outperform rating on the shares. The analyst suspects demand/volumes prove resilient as the company's markets appear closer to bottoms creating an attractive setup into 2023 and a favorable risk/reward in his view. He continues to believe organic earnings power is underestimated, and capital deployment serves as an upside lever.
ITT price target lowered to $100 from $113 at KeyBanc » 06:3805/0405/04/22
KeyBanc analyst Jeffrey…
KeyBanc analyst Jeffrey Hammond lowered the firm's price target on ITT to $100 from $113 and keeps an Overweight rating on the shares following Q1 earnings and conference call. The analyst finds the recent pullback in shares as a compelling entry point, with earnings de-risked and near-term headwinds well-managed. He sees plenty of cycle momentum across all three business, and expects further capital allocation catalysts.
ITT backs FY22 adjusted EPS view $4.30-$4.70, consensus $4.46 » 06:3705/0305/03/22
The company stated,…
The company stated, "We continue to expect revenue growth of 7% to 9%, or up 9% to 11% on an organic basis; segment operating margin of 17.5% to 18.4%; and adjusted segment operating margin of 17.6% to 18.5%, up 40 to 130 bps. We now expect earnings per share of $4.07 to $4.50, with no change to adjusted earnings per share of $4.30 to $4.70 per share, up 6% to 16%. Free cash flow is now expected to be in a range of $250 million to $300 million, representing free cash flow margin of approximately 8% to 10% for the full year. The company's 2022 guidance assumes continued disruptions in the global supply chain stemming from labor shortages, supplier delays, and raw material inflation, which we anticipate will persist through at least the first half of 2022. The guidance also assumes a significant reduction in sales in Russia stemming from the conflict in Ukraine, which we currently estimate will impact revenue by approximately $60 to $85 million for the full year. The guidance does not include the potential impact, if any, of a prolonged shutdown in China due to the reemergence of COVID-19."
ITT reports Q1 adjusted EPS 97c, consensus 97c » 06:3605/0305/03/22
Reports Q1 revenue…
Reports Q1 revenue $762.2M, consensus $695.27M.