Several other analysts also recently weighed in on the company. 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. ValuEngine upgraded Itron from a sell rating to a hold rating in a report on Wednesday, May 8th. Oppenheimer lifted their price objective on Itron from $60.00 to $68.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Stephens initiated coverage on Itron in a report on Monday, July 8th. They issued an equal weight rating and a $64.00 price objective for the company. Finally, Robert W. Baird upgraded Itron from a neutral rating to an outperform rating and lifted their price objective for the company from $56.00 to $62.00 in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $69.00.
ITRI stock opened at $68.50 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.44 and a quick ratio of 1.09. The business has a 50-day moving average price of $63.69 and a 200 day moving average price of $57.17. The company has a market capitalization of $2.69 billion, a P/E ratio of 25.85, a PEG ratio of 0.94 and a beta of 1.20. Itron has a 1-year low of $44.35 and a 1-year high of $71.00.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.39. The firm had revenue of $635.04 million during 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 firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts anticipate that Itron will post 2.91 earnings per share for the current fiscal year.
In other Itron news, major shareholder Scopia Capital Management Lp sold 31,144 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.34, for a total value of $1,785,796.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas S. Glanville sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $66.38, for a total transaction of $199,140.00. Following the completion of the transaction, the director now owns 13,007 shares of the company’s stock, valued at $863,404.66. The disclosure for this sale can be found here. Insiders sold 65,894 shares of company stock valued at $3,984,263 over the last quarter. 2.35% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ITRI. Bank of New York Mellon Corp raised its holdings in Itron by 113.9% in the second quarter. Bank of New York Mellon Corp now owns 898,225 shares of the scientific and technical instruments company’s stock worth $56,201,000 after purchasing an additional 478,329 shares in the last quarter. Norges Bank purchased a new stake in shares of Itron during the fourth quarter worth about $18,557,000. Neuberger Berman Group LLC grew its stake in shares of Itron by 48.6% during the first quarter. Neuberger Berman Group LLC now owns 1,159,467 shares of the scientific and technical instruments company’s stock worth $54,087,000 after acquiring an additional 378,967 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Itron by 571.9% during the second quarter. Prudential Financial Inc. now owns 370,833 shares of the scientific and technical instruments company’s stock worth $23,203,000 after acquiring an additional 315,640 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Itron during the second quarter worth about $19,288,000. Institutional investors and hedge funds own 97.85% of the company’s stock.
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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