ITG (NASDAQ:ITG) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded ITG from “Buy” to “Hold.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $17.22.
• ITG shares opened at $7.57, down 0.7%, significantly below the 50-day moving average of $11.55 and the 12-month high of $19.26.
• The company reported a quarterly loss of $0.08 per share on revenue of $333.92 million, while analysts expect full-year EPS of $0.54.

ITG (NASDAQ:ITG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

Several other equities research analysts have also issued reports on ITG. UBS Group assumed coverage on shares of ITG in a research note on Monday, July 27th. They set a "buy" rating and a $18.00 target price on the stock. Robert W. Baird began coverage on ITG in a research note on Monday, July 27th. They issued an "outperform" rating and a $19.00 price target for the company. Vertical Research started coverage on ITG in a report on Monday, July 27th. They issued a "buy" rating and a $20.00 price target for the company. Zacks Research upgraded ITG to a "hold" rating in a research report on Tuesday, July 28th. Finally, Stifel Nicolaus began coverage on ITG in a research report on Monday, July 27th. They issued a "buy" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.22.

ITG Stock Down 0.7%

ITG stock opened at $7.57 on Friday. The company's fifty day moving average price is $11.55. 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 has a market capitalization of $939.89 million and a PE ratio of 94.62. ITG has a twelve month low of $6.55 and a twelve month high of $19.26.

ITG (NASDAQ:ITG - Get Free Report) last announced its quarterly earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $333.92 million for the quarter. As a group, equities research analysts expect that ITG will post 0.54 EPS for the current year.

ITG Company Profile

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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