Itron (NASDAQ:ITRI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, December 22nd.
ITRI has been the subject of several other research reports. Argus lowered shares of Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Canaccord Genuity reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Itron in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.18.
Shares of Itron (ITRI) traded up $0.50 during trading hours on Friday, hitting $71.70. 248,521 shares of the company’s stock were exchanged, compared to its average volume of 320,713. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38. Itron has a 52 week low of $57.80 and a 52 week high of $79.95. The firm has a market cap of $2,757.24, a price-to-earnings ratio of 41.93, a P/E/G ratio of 1.03 and a beta of 1.00.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million during the quarter, compared to analyst estimates of $526.55 million. During the same period in the previous year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. sell-side analysts expect that Itron will post 2.99 earnings per share for the current year.
In related news, COO Thomas Deitrich sold 11,899 shares of Itron stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.27, for a total value of $824,243.73. Following the transaction, the chief operating officer now owns 82,776 shares in the company, valued at approximately $5,733,893.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Scopia Capital Management Lp acquired 75,193 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were bought at an average price of $67.34 per share, for a total transaction of $5,063,496.62. The disclosure for this purchase can be found here. Insiders purchased a total of 750,261 shares of company stock worth $51,839,736 in the last quarter. Insiders own 2.03% of the company’s stock.
Large investors have recently bought and sold shares of the company. Bessemer Group Inc. bought a new position in shares of Itron during the 3rd quarter worth about $620,000. Delta Lloyd Asset Management N.V. bought a new position in shares of Itron during the 2nd quarter worth about $4,743,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Itron by 39.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,080 shares of the scientific and technical instruments company’s stock worth $1,323,000 after purchasing an additional 4,870 shares during the period. Laurion Capital Management LP bought a new position in shares of Itron during the 2nd quarter worth about $906,000. Finally, Shelton Capital Management bought a new position in shares of Itron during the 2nd quarter worth about $563,000. Institutional investors own 93.54% of the company’s stock.
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Itron Company Profile
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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