ITG (NASDAQ:ITG) Given New $13.00 Price Target at KeyCorp

Key Points

• KeyCorp lowered ITG’s price target to $13 from $17 while maintaining an “overweight” rating, implying 117.39% upside from the stock’s $5.98 price.
• Analyst sentiment remains broadly positive: nine analysts rate ITG a Buy, with a consensus “Moderate Buy” rating and an average price target of $16.78.
• ITG shares fell 20.3% and trade near their 12-month low of $5.97. The company reported a quarterly loss of $0.08 per share on revenue of $333.92 million.

ITG (NASDAQ:ITG - Get Free Report) had its price target lowered by research analysts at KeyCorp from $17.00 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 117.39% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of ITG in a research report on Monday, July 27th. They issued a "buy" rating and a $18.00 price target for the company. Stifel Nicolaus started coverage on shares of ITG in a research report on Monday, July 27th. They set a "buy" rating and a $16.00 target price on the stock. Citigroup assumed coverage on ITG in a report on Monday, July 27th. They set a "buy" rating and a $17.00 target price on the stock. Robert W. Baird initiated coverage on ITG in a research report on Monday, July 27th. They issued an "outperform" rating and a $19.00 price target for the company. Finally, Bank of America started coverage on ITG in a research report on Monday, July 27th. They issued 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.78.

ITG Stock Down 20.3%

Shares of NASDAQ ITG opened at $5.98 on Thursday. ITG has a 12 month low of $5.97 and a 12 month high of $19.26. The company has a debt-to-equity ratio of 23.48, a current ratio of 2.80 and a quick ratio of 2.80. The company's fifty day moving average is $11.18.

ITG (NASDAQ:ITG - Get Free Report) last issued its quarterly 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 during the quarter. Equities research analysts forecast that ITG will post 0.54 EPS for the current year.

About ITG

Investment Technology Group, Inc NASDAQ: ITG was a financial technology and brokerage company that provided electronic trading, transaction research and investment technology services to institutional investors. Its offerings were designed to help asset managers, hedge funds and other professional investors execute trades, analyze market activity and manage trading costs.

ITG operated trading platforms and alternative trading systems, including POSIT, an electronic crossing network that matched buy and sell orders.

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