BidaskClub upgraded shares of Itron (NASDAQ:ITRI) from a hold rating to a buy rating in a report released on Friday, BidAskClub reports.
ITRI has been the subject of several other reports. Oppenheimer increased their price objective on Itron from $60.00 to $68.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. ValuEngine raised Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Stephens assumed coverage on Itron in a research report on Monday, July 8th. They issued an equal weight rating and a $64.00 price objective for the company. Robert W. Baird raised Itron from a neutral rating to an outperform rating and increased their price objective for the company from $56.00 to $62.00 in a research report on Tuesday, May 7th. Finally, Citigroup increased their price objective on Itron from $68.00 to $75.00 and gave the company an outperform rating in a research report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Itron currently has a consensus rating of Buy and a consensus target price of $68.70.
Shares of ITRI traded down $1.34 during mid-day trading on Friday, hitting $59.87. The company’s stock had a trading volume of 230,275 shares, compared to its average volume of 231,336. Itron has a one year low of $44.35 and a one year high of $66.95. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.40 and a quick ratio of 1.07. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 0.93 and a beta of 1.20. The business has a 50-day moving average of $61.51.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, May 6th. The scientific and technical instruments company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.27. Itron had a return on equity of 17.97% and a net margin of 1.87%. The company had revenue of $614.58 million during the quarter, compared to analysts’ expectations of $591.88 million. During the same period in the prior year, the business earned $0.13 earnings per share. Itron’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Itron will post 2.63 earnings per share for the current fiscal year.
In related news, major shareholder Scopia Capital Management Lp sold 66,810 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $54.21, for a total value of $3,621,770.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip Mezey sold 31,205 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $59.07, for a total value of $1,843,279.35. Following the completion of the transaction, the insider now directly owns 109,185 shares of the company’s stock, valued at $6,449,557.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,608 shares of company stock valued at $13,425,492. 2.35% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in Itron in the second quarter worth $37,000. Versant Capital Management Inc lifted its holdings in shares of Itron by 145.4% during the second quarter. Versant Capital Management Inc now owns 697 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 413 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Itron during the second quarter valued at $73,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Itron by 47.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,381 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 446 shares during the period. Finally, Smithfield Trust Co. lifted its holdings in shares of Itron by 2,120.0% during the first quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock valued at $67,000 after acquiring an additional 1,378 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.
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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