Buckle (NYSE: BKE), Mednax Services Inc (NYSE: MD), Southwest Bancorp Inc (NASDAQ: OKSB), Tractor Supply Co. (NASDAQ: TSCO), Westinghouse Air Brake Technologies Corp (NYSE: WAB), FMC Tech (NYSE: FTI) and Investment Technology Group (NYSE: ITG) upgraded by analysts.
Buckle (BKE) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Underweight” rating to a “Neutral” rating. They have a price target of $40.00 on the company.
Mednax Services Inc. (MD) was upgraded by Morgan Keegan from a “Market Perform” rating to an “Outperform” rating. They have a price target of $85.00 on the company, up from $70.00.
Southwest Bancorp Inc. ( OKSB) was upgraded by Keefe, Bruyette & Woods, Inc from a “Market Perform” rating to an “Outperform” rating.
Tractor Supply Co. (TSCO) was upgraded by Piper Jaffray (NYSE:PJC) from a “Neutral” rating to an “Overweight” rating. They have a price target of $80.00 on the company.
Westinghouse Air Brake Technologies Corp. (WAB) was upgraded by Morgan Keegan from a “Market Perform” rating to an “Outperform” rating. They have a price target of $83.00 on the company, up from $68.00.
FMC Tech (FTI) was upgraded by Global Hunter Securities from a “Neutral” rating to a “Buy” rating. They have a price target of $54.00 on the company, up from $49.00.
Investment Technology Group (ITG) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Overweight” rating.
Showing posts with label Investment Technology Group. Show all posts
Showing posts with label Investment Technology Group. Show all posts
Thursday, July 28, 2011
Tuesday, December 28, 2010
Investment Technology Group (NYSE:ITG) Margins to Improve in 2011
Margins for Investment Technology Group (NYSE:ITG) look like they'll improve in 2011, says Goldman Sachs (NYSE:GS), as higher pricing power could help them overcome weaker international markets.
Margins in the third quarter were due to softer U.S. equity volume.
Goldman raised their EPS estimates by $0.01 for each of the following: 4Q10, 2010, 2011, and 2012 to $0.20, $0.96, $1.21, and $1.36.
Goldman reiterates their "Neutral" rating on Investment Technology Group, which closed Monday at $16.61, up $0.04, or 0.24 percent. They raised their price target on them to $17.
Margins in the third quarter were due to softer U.S. equity volume.
Goldman raised their EPS estimates by $0.01 for each of the following: 4Q10, 2010, 2011, and 2012 to $0.20, $0.96, $1.21, and $1.36.
Goldman reiterates their "Neutral" rating on Investment Technology Group, which closed Monday at $16.61, up $0.04, or 0.24 percent. They raised their price target on them to $17.
Thursday, December 9, 2010
Investment Technology (NYSE:ITG) Grows Market Share in November
Investment Technology Group (NYSE:ITG) increased market share in November by 10 percent year-over-year. From October, they increased market share from 2.55 percent to 2.91 percent.
Commenting on the growth, Ticonderoga said, "ITG reported November ADV of 186m, representing 10% YOY and 11% sequential growth. Looking at market share, it spiked to 2.91% from 2.55% in October. This represents the highest level of market share since 2008. ITG benefited from the MSCI rebalance at the end of November and year-end repositioning by asset managers with a November year-end. Also, given the ongoing outflows we have seen in domestic equity funds, we believe the business mix has continued to shift towards lower capture rate DMA and spread businesses and away from the more traditional long-only business. These dynamics are likely to continue to pressure the capture rate.
"While volume estimates are clearly moving higher given November results, we would expect to see further pressure on the capture rate from here. We are building in December ADV of 149m, representing an estimated market share of 2.6% (vs. 2.56% in 3Q10 and 2.55% in October). We are forecasting 4Q10 ADV of 167m and EPS of $0.20 (vs. consensus of $0.22). Even with the better than expected November results, we still see some downside risk to consensus, and believe estimates should be closer to $0.20."
Ticonderoga maintains a "Neutral" rating on Investment Technology Group (NYSE:ITG), which closed Wednesday at $15.51, up $0.08, or 0.52 percent.
Commenting on the growth, Ticonderoga said, "ITG reported November ADV of 186m, representing 10% YOY and 11% sequential growth. Looking at market share, it spiked to 2.91% from 2.55% in October. This represents the highest level of market share since 2008. ITG benefited from the MSCI rebalance at the end of November and year-end repositioning by asset managers with a November year-end. Also, given the ongoing outflows we have seen in domestic equity funds, we believe the business mix has continued to shift towards lower capture rate DMA and spread businesses and away from the more traditional long-only business. These dynamics are likely to continue to pressure the capture rate.
"While volume estimates are clearly moving higher given November results, we would expect to see further pressure on the capture rate from here. We are building in December ADV of 149m, representing an estimated market share of 2.6% (vs. 2.56% in 3Q10 and 2.55% in October). We are forecasting 4Q10 ADV of 167m and EPS of $0.20 (vs. consensus of $0.22). Even with the better than expected November results, we still see some downside risk to consensus, and believe estimates should be closer to $0.20."
Ticonderoga maintains a "Neutral" rating on Investment Technology Group (NYSE:ITG), which closed Wednesday at $15.51, up $0.08, or 0.52 percent.
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