Itron, Inc. (ITRI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Itron, Inc. (NASDAQ:ITRI) from a hold rating to a buy rating in a report released on Monday. Zacks Investment Research currently has $81.00 price objective on the scientific and technical instruments company’s stock.
According to Zacks, “Itron expects revenues to be between $2.03 million and $2.06 billion, and adjusted earnings per share between $2.95 and $3.15 for the 2017. Its favorable mix of business, in addition to operational efficiencies and greater day-to-day business discipline, will drive earnings growth. Itron continues to focus on expanding its portfolio of outcome-based solutions, aimed at higher growth opportunities utilizing the power of the OpenWay Riva platform. The company’s restructuring projects will help in reducing costs and increase manufacturing flexibility. Moreover, the Comverge acquisition, strong bookings and backlog, and new projects are anticipated to fuel growth. The company outperformed the industry over the past year.”
Several other equities analysts also recently commented on the company. Guggenheim initiated coverage on Itron in a research note on Tuesday, June 20th. They issued a buy rating and a $81.00 price objective on the stock. BidaskClub downgraded Itron from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. JMP Securities set a $88.00 price objective on Itron and gave the company a buy rating in a research note on Tuesday, July 18th. Canaccord Genuity reiterated a buy rating and issued a $78.00 price objective on shares of Itron in a research note on Friday, July 14th. Finally, Cowen and Company set a $60.00 price objective on Itron and gave the company a hold rating in a research note on Friday, July 21st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $80.13.
Itron (NASDAQ:ITRI) opened at 72.80 on Monday. The company has a 50 day moving average price of $72.06 and a 200-day moving average price of $66.34. The company has a market capitalization of $2.82 billion, a P/E ratio of 90.10 and a beta of 1.10. Itron has a 52 week low of $47.58 and a 52 week high of $75.60.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Itron had a return on equity of 15.43% and a net margin of 1.60%. The business had revenue of $503.10 million for the quarter, compared to the consensus estimate of $491.80 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. Itron’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that Itron will post $3.07 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of ITRI. Credit Suisse AG boosted its stake in shares of Itron by 25.0% in the first quarter. Credit Suisse AG now owns 106,811 shares of the scientific and technical instruments company’s stock worth $6,483,000 after buying an additional 21,368 shares during the last quarter. Chicago Equity Partners LLC boosted its stake in shares of Itron by 12.1% in the first quarter. Chicago Equity Partners LLC now owns 38,700 shares of the scientific and technical instruments company’s stock worth $2,349,000 after buying an additional 4,180 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Itron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 461,181 shares of the scientific and technical instruments company’s stock worth $27,995,000 after buying an additional 18,598 shares during the last quarter. Redwood Investments LLC acquired a new stake in shares of Itron during the first quarter worth about $6,923,000. Finally, HighTower Advisors LLC boosted its stake in shares of Itron by 5.9% in the first quarter. HighTower Advisors LLC now owns 3,845 shares of the scientific and technical instruments company’s stock worth $234,000 after buying an additional 214 shares during the last quarter. 93.81% of the stock is currently owned by institutional investors and hedge funds.
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. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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