Itron Inc. (ITRI) PT Raised to $66.00
Itron Inc. (NASDAQ:ITRI) had its price target lifted by analysts at Needham & Company LLC from $60.00 to $66.00 in a research note issued on Monday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 3.77% from the stock’s current price.
A number of other research firms also recently issued reports on ITRI. Robert W. Baird restated an “outperform” rating and issued a $47.00 price target on shares of Itron in a research report on Saturday, August 13th. Canaccord Genuity reiterated a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of Itron in a research report on Monday, October 3rd. TheStreet upgraded shares of Itron from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Oppenheimer Holdings Inc. raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Thursday, November 3rd. Finally, Zacks Investment Research raised shares of Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research note on Friday, September 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Itron presently has an average rating of “Buy” and an average price target of $56.88.
Shares of Itron (NASDAQ:ITRI) opened at 63.60 on Monday. The stock’s 50 day moving average is $56.22 and its 200-day moving average is $48.29. The firm has a market cap of $2.43 billion, a P/E ratio of 84.69 and a beta of 1.26. Itron has a one year low of $29.02 and a one year high of $64.15.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.16. The business earned $506.86 million during the quarter, compared to analyst estimates of $481.51 million. Itron had a net margin of 1.45% and a return on equity of 12.89%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. Analysts anticipate that Itron will post $2.44 EPS for the current fiscal year.
In other Itron news, Director Thomas S. Glanville sold 2,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $60.55, for a total value of $121,100.00. Following the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $861,444.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel S. Pelino purchased 2,322 shares of the stock in a transaction on Monday, November 7th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $135,744.12. Following the acquisition, the director now directly owns 8,548 shares in the company, valued at $499,716.08. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. MSI Financial Services Inc increased its stake in shares of Itron by 21,622.2% in the third quarter. MSI Financial Services Inc now owns 1,955 shares of the company’s stock valued at $109,000 after buying an additional 1,946 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Itron by 2,352.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,090 shares of the company’s stock valued at $133,000 after buying an additional 2,964 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Itron during the third quarter valued at about $134,000. CWH Capital Management Inc. bought a new position in shares of Itron during the second quarter valued at about $202,000. Finally, PineBridge Investments L.P. increased its position in shares of Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock valued at $207,000 after buying an additional 175 shares during the period. 95.70% of the stock is currently owned by hedge funds and other institutional investors.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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