Argus upgraded shares of Itron (NASDAQ:ITRI) from a hold rating to a buy rating in a research report sent to investors on Friday, BenzingaRatingsTable reports.
Several other brokerages have also commented on ITRI. BidaskClub lowered Itron from a buy rating to a hold rating in a report on Saturday, August 10th. Robert W. Baird upgraded Itron from a neutral rating to an outperform rating and increased their price objective for the company from $56.00 to $62.00 in a report on Tuesday, May 7th. Zacks Investment Research upgraded Itron from a hold rating to a buy rating and set a $67.00 price objective for the company in a report on Monday, May 13th. Citigroup increased their price objective on Itron from $68.00 to $75.00 and gave the company an outperform rating in a report on Monday, July 1st. Finally, Stephens started coverage on Itron in a report on Monday, July 8th. They set an equal weight rating and a $64.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $68.70.
Itron stock traded up $2.16 during mid-day trading on Friday, reaching $69.70. 429,600 shares of the company were exchanged, compared to its average volume of 308,070. Itron has a 12-month low of $44.35 and a 12-month high of $69.81. The business has a fifty day moving average of $62.88 and a 200 day moving average of $56.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.44. The firm has a market cap of $2.64 billion, a P/E ratio of 26.30, a PEG ratio of 0.92 and a beta of 1.20.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.48 by $0.39. Itron had a return on equity of 19.51% and a net margin of 2.52%. The firm had revenue of $635.04 million during the quarter, compared to analyst estimates of $598.59 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Itron will post 2.91 EPS for the current year.
In related news, insider Philip Mezey sold 31,414 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $62.98, for a total value of $1,978,453.72. Following the transaction, the insider now directly owns 74,624 shares of the company’s stock, valued at approximately $4,699,819.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas S. Glanville sold 3,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $66.38, for a total value of $199,140.00. Following the completion of the transaction, the director now directly owns 13,007 shares in the company, valued at $863,404.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,252 shares of company stock worth $8,138,812. 2.35% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC purchased a new position in Itron in the 2nd quarter valued at about $575,000. Essex Investment Management Co. LLC lifted its stake in Itron by 319.9% in the 2nd quarter. Essex Investment Management Co. LLC now owns 46,472 shares of the scientific and technical instruments company’s stock valued at $2,908,000 after buying an additional 35,404 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Itron in the 2nd quarter valued at about $19,288,000. Price T Rowe Associates Inc. MD lifted its stake in Itron by 12.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 26,139 shares of the scientific and technical instruments company’s stock valued at $1,636,000 after buying an additional 2,791 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Itron by 1.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 639,803 shares of the scientific and technical instruments company’s stock valued at $40,032,000 after buying an additional 6,675 shares in the last quarter. 97.55% of the stock is currently owned by institutional investors.
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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