Shore Capital Downgrades ITV (LON:ITV) to Hold

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ITV (LON:ITV) was downgraded by research analysts at Shore Capital to a “hold” rating in a note issued to investors on Friday, Digital Look reports.

A number of other research firms have also recently issued reports on ITV. JPMorgan Chase & Co. cut their target price on shares of ITV from GBX 200 ($2.61) to GBX 170 ($2.22) and set an “overweight” rating for the company in a research note on Thursday, July 25th. Deutsche Bank restated a “hold” rating on shares of ITV in a research note on Friday, July 26th. Barclays cut their target price on shares of ITV from GBX 130 ($1.70) to GBX 125 ($1.63) and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Goldman Sachs Group cut their target price on shares of ITV from GBX 187 ($2.44) to GBX 121 ($1.58) and set a “neutral” rating for the company in a research note on Monday, June 3rd. Finally, Liberum Capital restated a “buy” rating on shares of ITV in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of GBX 141.17 ($1.84).

LON ITV opened at GBX 126.30 ($1.65) on Friday. The firm has a 50-day moving average of GBX 111.71 and a 200-day moving average of GBX 119.51. The company has a debt-to-equity ratio of 181.11, a quick ratio of 0.72 and a current ratio of 0.97. The stock has a market cap of $5.08 billion and a PE ratio of 11.38. ITV has a 52-week low of GBX 102.65 ($1.34) and a 52-week high of GBX 165.80 ($2.17).

In other ITV news, insider Mary Harris acquired 3,113 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of GBX 108 ($1.41) per share, for a total transaction of £3,362.04 ($4,393.10).

About ITV

ITV plc, an integrated producer broadcaster, creates, owns, and distributes content on various platforms worldwide. It operates through Broadcast & Online, and ITV Studios segments. The Broadcast & Online segment broadcasts various contents on its family of free-to-air channels, including ITV, ITV2, ITV3, ITV4, ITVBe, ITV Encore, CITV, ITV Breakfast, CITV Breakfast, and various related +1 and HD equivalents; and offers television advertising services.

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Analyst Recommendations for ITV (LON:ITV)

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