ITG (NASDAQ:ITG) Stock Price Target Cut by Citigroup

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

A number of other analysts have also recently commented on the company. Weiss Ratings started coverage on ITG in a research report on Friday, September 25th. They issued a “sell (e-)” rating for the company. Bank of America initiated coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $16.00 price target on the stock. Vertical Research began coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $20.00 price objective for the company. Stifel Nicolaus dropped their price objective on ITG from $16.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Finally, Morgan Stanley decreased their price target on shares of ITG from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ITG has an average rating of “Moderate Buy” and a consensus price target of $15.11.

ITG Stock Performance

Shares of NASDAQ:ITG traded up $0.30 during trading on Friday, reaching $5.23. 592,959 shares of the stock traded hands, compared to its average volume of 483,656. ITG has a 52-week low of $4.59 and a 52-week high of $19.26. The firm’s 50-day moving average price is $10.26. 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 market capitalization of $649.36 million and a PE ratio of 65.44.

ITG (NASDAQ:ITG) last posted its earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $333.92 million for the quarter. Sell-side 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.