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

ITG (NASDAQ:ITG) had its target price dropped by equities researchers at Citigroup from $17.00 to $9.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price target indicates a potential upside of 72.08% from the company’s current price.

Other equities analysts have also issued reports about the stock. Truist Financial reduced their price target on shares of ITG from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. KeyCorp cut their price target on ITG from $17.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Vertical Research initiated coverage on ITG in a research note on Monday, July 27th. They set a “buy” rating and a $20.00 price objective on the stock. UBS Group assumed coverage on ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Bank of America started coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $16.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.11.

ITG Price Performance

Shares of NASDAQ ITG traded up $0.30 during mid-day trading on Friday, reaching $5.23. 592,959 shares of the company traded hands, compared to its average volume of 483,656. ITG has a fifty-two week low of $4.59 and a fifty-two week high of $19.26. 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 company has a fifty day moving average of $10.26. The firm has a market capitalization of $649.36 million and a price-to-earnings ratio of 65.44.

ITG (NASDAQ:ITG) last issued its earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $333.92 million for the quarter. As a group, analysts predict that ITG will post 0.54 EPS for the current fiscal 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.