Itron Inc. (ITRI) Receives Average Recommendation of “Buy” from Analysts
Itron Inc. (NASDAQ:ITRI) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $56.88.
Several research analysts recently issued reports on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $62.00 target price on shares of Itron in a research report on Saturday. Needham & Company LLC boosted their price target on shares of Itron from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. TheStreet downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Oppenheimer Holdings Inc. raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $61.00 price target (up from $57.00) on shares of Itron in a research note on Monday, October 3rd.
In related news, Director Thomas S. Glanville sold 4,000 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total value of $212,600.00. Following the completion of the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at $1,104,616.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Scopia Capital Management Lp purchased 83,303 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was bought at an average cost of $53.84 per share, with a total value of $4,485,033.52. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ITRI. Frontier Capital Management Co. LLC increased its position 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 increased its position 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 position in Itron during the second quarter worth about $271,000. Capstone Asset Management Co. increased its position 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. Finally, PineBridge Investments L.P. increased its position in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock worth $207,000 after buying an additional 175 shares during the last quarter. 94.52% of the stock is owned by institutional investors.
Shares of Itron (NASDAQ:ITRI) traded up 0.116% during mid-day trading on Tuesday, reaching $64.525. The company’s stock had a trading volume of 136,914 shares. The company’s 50-day moving average is $57.23 and its 200 day moving average is $48.95. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 85.919 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 announced its earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.16. Itron had a net margin of 1.45% and a return on equity of 12.89%. The company earned $506.86 million during the quarter, compared to analyst estimates of $481.51 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Itron will post $2.44 EPS for the current year.
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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