Raymond James cut shares of Itron (NASDAQ:ITRI) from a strong-buy rating to an outperform rating in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have $75.00 target price on the scientific and technical instruments company’s stock.
Several other research analysts also recently commented on ITRI. TheStreet raised Itron from a c+ rating to a b- rating in a report on Friday, August 16th. ValuEngine raised Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Oppenheimer lifted their price objective on Itron from $60.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. Zacks Investment Research raised Itron from a hold rating to a buy rating and set a $67.00 price objective for the company in a research report on Monday, May 13th. Finally, BidaskClub raised Itron from a hold rating to a buy rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Itron presently has an average rating of Buy and a consensus target price of $69.00.
Shares of ITRI opened at $68.50 on Tuesday. The company has a market capitalization of $2.69 billion, a PE ratio of 25.85, a PEG ratio of 0.94 and a beta of 1.20. Itron has a 12 month low of $44.35 and a 12 month high of $71.00. The stock’s 50-day moving average price is $63.69 and its two-hundred day moving average price is $57.17. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39.
Itron (NASDAQ:ITRI) last announced its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The firm had revenue of $635.04 million for the quarter, compared to the consensus estimate of $598.59 million. Itron had a return on equity of 19.51% and a net margin of 2.52%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities research analysts predict that Itron will post 2.91 EPS for the current fiscal year.
In related news, major shareholder Scopia Capital Management Lp sold 31,144 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $57.34, for a total value of $1,785,796.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas S. Glanville sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 13,007 shares of the company’s stock, valued at $863,404.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,894 shares of company stock valued at $3,984,263. Corporate insiders own 2.35% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in Itron by 148.1% in the 4th quarter. Bank of America Corp DE now owns 50,984 shares of the scientific and technical instruments company’s stock worth $2,410,000 after buying an additional 30,436 shares during the period. Norges Bank bought a new position in Itron in the 4th quarter worth approximately $18,557,000. Geode Capital Management LLC increased its position in Itron by 9.5% in the 4th quarter. Geode Capital Management LLC now owns 390,825 shares of the scientific and technical instruments company’s stock worth $18,482,000 after buying an additional 33,782 shares during the period. Foundry Partners LLC increased its position in Itron by 9.0% in the 1st quarter. Foundry Partners LLC now owns 245,468 shares of the scientific and technical instruments company’s stock worth $11,451,000 after buying an additional 20,219 shares during the period. Finally, Investec Asset Management LTD increased its position in Itron by 2.4% in the 1st quarter. Investec Asset Management LTD now owns 50,653 shares of the scientific and technical instruments company’s stock worth $2,363,000 after buying an additional 1,199 shares during the period. 97.85% of the stock is owned by institutional investors and hedge funds.
Itron Company Profile
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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