Truist cuts ITG stock price target to $11 on margin outlook

Stifel reduced its price target for ITG Inc. to $8.00 from $9.00, maintaining a Buy rating. ITG reported Q3 2026 revenue growth of 49% and adjusted EBITDA margin improvement of 130 basis points. The company updated its 2026 guidance, slightly raising revenue and adjusted EBITDA projections. ITG's stock is up 16% over the past week but down 70% year-to-date. KeyBanc and Morgan Stanley also adjusted their price targets, citing revenue timing shifts and sector valuation adjustments.

ITG reported Q3 2026 revenue of $461.5M, up 49% YoY, and Adjusted EBITDA of $64.5M, up 64%. The company had a net loss of $6.1M and free cash flow of $62.8M. ITG raised its 2026 outlook, forecasting 37% growth in revenue and Adjusted EBITDA to $1.578B and $203M, respectively.

ITG Inc (ITG) reported Q3 2026 earnings with record revenue, 49% growth, and a 14% adjusted EBITDA margin. CEO Andy Parrott and CFO Chris McRae discussed organic growth, M&A pipeline, competition, and margin dynamics. The company expects solid margins into 2027 and positive free cash flow, with a $1.5B backlog providing visibility.

ITG, Inc. (ITG) reported Q3 2026 earnings, highlighting 49% year-over-year revenue growth, driven by acquisitions and organic growth. Adjusted EBITDA increased 63% to $64.5 million, with margins improving to 14%. The company secured $237 million in new awards, including a significant win from a new multi-state fiber builder. ITG updated its full-year 2026 guidance, expecting 37% revenue and EBITDA growth.

ITG reported Q3 revenue concentration from top two customers fell to less than 50% from 60% YoY. Management expects this trend to continue. ITG completed its first post-IPO acquisition, Full Circle Fiber, contributing $50M in annualized sales. Organic growth was 27% excluding acquired revenue. Q3 free cash flow was impacted by acquisition costs and seasonal factors. Management remains confident in 2027 outlook despite margin headwinds from fuel and healthcare costs.

ITG, Inc. (ITG) reported a Q3 net loss of $6.149 million, despite a 49% revenue increase to $461.528 million. Adjusted EBITDA rose 64% to $64.542 million. The company raised its fiscal 2026 revenue and EBITDA outlooks, expecting $1.578 billion and $203 million, respectively. ITG stock closed at $5.34, down 0.74%.