Itron Inc. (ITRI) Rating Reiterated by Robert W. Baird
Itron Inc. (NASDAQ:ITRI)‘s stock had its “outperform” rating restated by investment analysts at Robert W. Baird in a research report issued to clients and investors on Saturday. They currently have a $62.00 price target on the stock. Robert W. Baird’s price objective points to a potential downside of 4.39% from the company’s current price.
ITRI has been the topic of a number of other research reports. TheStreet lowered Itron from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Needham & Company LLC increased their target price on Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, September 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $57.00 price objective (up from $50.00) on shares of Itron in a research note on Friday, September 2nd. Zacks Investment Research raised Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research note on Friday, September 9th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $50.00 price objective (up from $45.00) on shares of Itron in a research note on Sunday, September 4th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.88.
Itron (NASDAQ:ITRI) traded up 0.15% on Friday, reaching $64.85. The company’s stock had a trading volume of 200,689 shares. The company’s 50 day moving average price is $56.76 and its 200-day moving average price is $48.58. The stock has a market cap of $2.48 billion, a PE ratio of 86.35 and a beta of 1.26. Itron has a 12-month low of $29.02 and a 12-month high of $65.40.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.16. Itron had a return on equity of 12.89% and a net margin of 1.45%. The firm earned $506.86 million during the quarter, compared to the consensus estimate of $481.51 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that Itron will post $2.44 EPS for the current year.
In related news, Director Thomas S. Glanville sold 4,000 shares of Itron stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $53.15, for a total transaction of $212,600.00. Following the transaction, the director now owns 20,783 shares of the company’s stock, valued at $1,104,616.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Scopia Capital Management Lp bought 83,303 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average cost of $53.84 per share, for a total transaction of $4,485,033.52. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Frontier Capital Management Co. LLC raised its stake in Itron by 35.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,773,931 shares of the company’s stock worth $76,456,000 after buying an additional 459,922 shares during the last quarter. Scopia Capital Management LP raised its stake in Itron by 26.6% in the first quarter. Scopia Capital Management LP now owns 4,475,083 shares of the company’s stock worth $186,700,000 after buying an additional 940,900 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new stake in Itron during the second quarter worth about $271,000. Renaissance Technologies LLC raised its stake in Itron by 55.3% in the first quarter. Renaissance Technologies LLC now owns 619,361 shares of the company’s stock worth $25,840,000 after buying an additional 220,461 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in Itron by 2.2% in the second quarter. Capstone Asset Management Co. now owns 11,586 shares of the company’s stock worth $499,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.
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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