New Lifetime High Reached: ITC Holdings (ITC)

Trade-Ideas LLC identified ITC Holdings ( ITC) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified ITC Holdings as such a stock due to the following factors:

  • ITC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $55.3 million.
  • ITC has traded 21,027 shares today.
  • ITC is trading at a new lifetime high.

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More details on ITC:

ITC Holdings Corp., through its subsidiaries, engages in the electric transmission operations in the United States. The stock currently has a dividend yield of 1.6%. ITC has a PE ratio of 31. Currently there is 1 analyst that rates ITC Holdings a buy, no analysts rate it a sell, and 6 rate it a hold.

The average volume for ITC Holdings has been 1.1 million shares per day over the past 30 days. ITC has a market cap of $7.1 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.02 and a short float of 1.3% with 1.61 days to cover. Shares are up 18.9% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates ITC Holdings as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 7.6%. Since the same quarter one year prior, revenues slightly increased by 2.8%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • The gross profit margin for ITC HOLDINGS CORP is currently very high, coming in at 71.27%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 22.93% significantly outperformed against the industry average.
  • Net operating cash flow has increased to $87.82 million or 31.19% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -5.16%.
  • ITC HOLDINGS CORP' earnings per share from the most recent quarter came in slightly below the year earlier quarter. Stable earnings per share over the past year indicate the company has sound management over its earnings and share float. We anticipate these figures will begin to experience more growth in the coming year. During the past fiscal year, ITC HOLDINGS CORP increased its bottom line by earning $1.55 versus $1.54 in the prior year. This year, the market expects an improvement in earnings ($2.10 versus $1.55).
  • Compared to its closing price of one year ago, ITC's share price has jumped by 45.49%, exceeding the performance of the broader market during that same time frame. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.

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