Brokerages Set Itron, Inc. (ITRI) PT at $80.90

Shares of Itron, Inc. (NASDAQ:ITRI) have been given a consensus rating of “Buy” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $80.90.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Itron from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine lowered Itron from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BidaskClub lowered Itron from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 25th. Argus raised Itron from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, August 22nd. Finally, Guggenheim set a $73.00 price objective on Itron and gave the stock a “buy” rating in a report on Monday, August 6th.

In other Itron news, insider Philip Mezey sold 16,694 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $65.04, for a total value of $1,085,777.76. Following the sale, the insider now owns 93,341 shares of the company’s stock, valued at $6,070,898.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.03% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in Itron by 12.7% in the second quarter. US Bancorp DE now owns 8,010 shares of the scientific and technical instruments company’s stock valued at $481,000 after purchasing an additional 904 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Itron by 21.6% in the second quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock valued at $308,000 after acquiring an additional 909 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Itron by 1.4% in the first quarter. Wells Fargo & Company MN now owns 65,367 shares of the scientific and technical instruments company’s stock valued at $4,676,000 after acquiring an additional 933 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Itron by 3.0% in the second quarter. Pinebridge Investments L.P. now owns 33,774 shares of the scientific and technical instruments company’s stock valued at $2,028,000 after acquiring an additional 983 shares in the last quarter. Finally, CAPROCK Group Inc. lifted its position in shares of Itron by 28.7% in the second quarter. CAPROCK Group Inc. now owns 6,035 shares of the scientific and technical instruments company’s stock valued at $362,000 after acquiring an additional 1,346 shares in the last quarter. 93.98% of the stock is currently owned by institutional investors.

ITRI stock traded up $0.29 on Monday, reaching $54.43. 246,237 shares of the company’s stock were exchanged, compared to its average volume of 248,178. Itron has a twelve month low of $49.85 and a twelve month high of $77.40. The firm has a market capitalization of $2.05 billion, a PE ratio of 17.79, a P/E/G ratio of 0.89 and a beta of 1.10. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.51 and a quick ratio of 1.18.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Monday, August 6th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Itron had a positive return on equity of 12.86% and a negative net margin of 5.18%. The firm had revenue of $585.89 million for the quarter, compared to analyst estimates of $592.12 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Itron’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts expect that Itron will post 2.79 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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