ValuEngine Downgrades Itron (ITRI) to Hold

Itron (NASDAQ:ITRI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research firms have also issued reports on ITRI. Canaccord Genuity restated a “hold” rating and issued a $78.00 price objective on shares of Itron in a research note on Wednesday, December 27th. UBS assumed coverage on Itron in a research note on Tuesday, January 2nd. They issued a “strong-buy” rating and a $84.00 price objective on the stock. Raymond James assumed coverage on Itron in a research note on Tuesday, January 2nd. They issued a “strong-buy” rating and a $84.00 price objective on the stock. Zacks Investment Research lowered Itron from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, BidaskClub upgraded Itron from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $84.18.

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NASDAQ ITRI traded down $0.75 during trading hours on Monday, hitting $68.35. 177,461 shares of the company traded hands, compared to its average volume of 255,381. Itron has a twelve month low of $61.26 and a twelve month high of $79.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.29 and a current ratio of 1.67. The stock has a market capitalization of $2,703.36, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.08 and a beta of 0.95.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. Itron had a return on equity of 15.84% and a net margin of 2.84%. The firm had revenue of $550.78 million during the quarter, compared to analysts’ expectations of $532.61 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. research analysts forecast that Itron will post 3.05 EPS for the current year.

In other news, VP Shannon M. Votava sold 6,661 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $71.58, for a total transaction of $476,794.38. Following the transaction, the vice president now owns 16,459 shares in the company, valued at $1,178,135.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Philip Mezey sold 3,330 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $68.30, for a total value of $227,439.00. Following the transaction, the chief executive officer now owns 54,327 shares in the company, valued at approximately $3,710,534.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,708 shares of company stock worth $1,187,652. 2.32% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Delpha Capital Management LLC bought a new position in shares of Itron during the fourth quarter worth approximately $134,000. Xact Kapitalforvaltning AB bought a new position in shares of Itron during the fourth quarter worth approximately $214,000. CIBC Asset Management Inc bought a new position in shares of Itron during the fourth quarter worth approximately $227,000. Suntrust Banks Inc. bought a new position in shares of Itron during the fourth quarter worth approximately $236,000. Finally, Elkfork Partners LLC bought a new position in shares of Itron during the fourth quarter worth approximately $243,000. Institutional investors own 94.82% of the company’s stock.

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About Itron

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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