Itron (ITRI) Upgraded at BidaskClub

Itron (NASDAQ:ITRI) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

Several other brokerages also recently issued reports on ITRI. ValuEngine raised shares of Itron from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Macquarie began coverage on shares of Itron in a research note on Thursday, March 22nd. They issued a “neutral” rating for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $84.00 target price on shares of Itron in a research note on Wednesday, April 4th. Cowen raised shares of Itron from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $84.00 in a research note on Thursday, March 1st. Finally, JMP Securities set a $108.00 target price on shares of Itron and gave the stock a “buy” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $83.60.

Shares of Itron opened at $59.05 on Thursday, Marketbeat Ratings reports. Itron has a 12-month low of $56.70 and a 12-month high of $79.95. The stock has a market cap of $2.30 billion, a P/E ratio of 19.30, a PEG ratio of 0.93 and a beta of 0.95. The company has a quick ratio of 1.13, a current ratio of 1.46 and a debt-to-equity ratio of 1.57.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Itron had a negative net margin of 4.85% and a positive return on equity of 13.59%. The firm had revenue of $607.00 million during the quarter, compared to the consensus estimate of $575.74 million. During the same period last year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. equities research analysts expect that Itron will post 3.02 EPS for the current fiscal year.

In other Itron news, major shareholder Scopia Capital Management Lp purchased 114,129 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was acquired at an average cost of $59.34 per share, with a total value of $6,772,414.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip Mezey sold 16,694 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $65.15, for a total transaction of $1,087,614.10. Following the sale, the insider now directly owns 93,341 shares of the company’s stock, valued at $6,081,166.15. The disclosure for this sale can be found here. Insiders own 2.32% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan raised its stake in shares of Itron by 5.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 13,630 shares of the scientific and technical instruments company’s stock worth $975,000 after buying an additional 740 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Itron by 22.7% during the fourth quarter. Flinton Capital Management LLC now owns 4,536 shares of the scientific and technical instruments company’s stock worth $309,000 after buying an additional 840 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Itron by 17.9% during the fourth quarter. Profund Advisors LLC now owns 5,606 shares of the scientific and technical instruments company’s stock worth $382,000 after buying an additional 852 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Itron by 1.4% during the first quarter. Wells Fargo & Company MN now owns 65,367 shares of the scientific and technical instruments company’s stock worth $4,676,000 after buying an additional 933 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Itron by 2.1% during the fourth quarter. Swiss National Bank now owns 58,600 shares of the scientific and technical instruments company’s stock worth $3,997,000 after buying an additional 1,200 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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