Morgan Stanley Has Lowered Expectations for ITG (NASDAQ:ITG) Stock Price

ITG (NASDAQ:ITG) had its target price dropped by equities research analysts at Morgan Stanley from $18.00 to $9.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley‘s price objective indicates a potential upside of 75.44% from the company’s previous close.

A number of other research firms have also recently issued reports on ITG. Citigroup cut their price target on ITG from $17.00 to $9.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Weiss Ratings started coverage on shares of ITG in a report on Friday, September 25th. They set a “sell (e-)” rating on the stock. Truist Financial lowered their price objective on shares of ITG from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Wall Street Zen cut shares of ITG from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Finally, Zacks Research raised shares of ITG to a “hold” rating in a research note on Tuesday, July 28th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.11.

ITG Price Performance

ITG stock opened at $5.13 on Thursday. The company’s fifty day simple moving average is $8.23. The company has a debt-to-equity ratio of 23.48, a current ratio of 2.80 and a quick ratio of 2.80. ITG has a fifty-two week low of $4.11 and a fifty-two week high of $19.26. The firm has a market cap of $636.94 million and a PE ratio of 64.12.

ITG (NASDAQ:ITG) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $0.22 EPS for the quarter. The business had revenue of $461.53 million during the quarter. On average, equities analysts expect that ITG will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ITG

A hedge fund recently bought a new stake in ITG stock. Pictet Asset Management Holding SA bought a new stake in ITG Inc. (NASDAQ:ITG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 659,623 shares of the company’s stock, valued at approximately $5,129,000. Pictet Asset Management Holding SA owned 0.53% of ITG as of its most recent filing with the Securities and Exchange Commission.

ITG Company Profile

Investment Technology Group, Inc. (ITG) was a financial technology and agency brokerage firm serving institutional investors. Its services included trade execution, execution algorithms, trading analytics and tools designed to help clients manage and evaluate their equity trading. ITG’s products included POSIT, an alternative trading system that matched buyers and sellers, and Triton, an execution management system. The company also provided transaction-cost analysis and related research to help clients assess trading performance.