Robert W. Baird Reaffirms Hold Rating for Itron, Inc. (ITRI)
Itron, Inc. (NASDAQ:ITRI)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a research report issued on Tuesday. They presently have a $77.00 price target on the scientific and technical instruments company’s stock. Robert W. Baird’s price target indicates a potential upside of 6.94% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target (up previously from $74.00) on shares of Itron in a report on Thursday, August 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $78.00 price target on shares of Itron in a report on Friday, July 14th. JMP Securities set a $88.00 price target on shares of Itron and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Guggenheim initiated coverage on shares of Itron in a report on Tuesday, June 20th. They issued a “buy” rating and a $81.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $80.11.
Shares of Itron (NASDAQ:ITRI) traded down 0.48% during trading on Tuesday, hitting $72.00. The stock had a trading volume of 157,356 shares. The firm’s 50 day moving average is $72.34 and its 200 day moving average is $66.99. Itron has a 1-year low of $51.55 and a 1-year high of $75.60. The company has a market cap of $2.79 billion, a PE ratio of 89.11 and a beta of 1.08.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $491.80 million. Itron had a net margin of 1.60% and a return on equity of 15.43%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities research analysts anticipate that Itron will post $3.07 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in 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 valued at $6,483,000 after acquiring an additional 21,368 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new position in Itron in the second quarter valued at $4,743,000. Bank of New York Mellon Corp increased its stake in 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 valued at $27,995,000 after acquiring an additional 18,598 shares during the last quarter. Redwood Investments LLC bought a new position in Itron in the first quarter valued at $6,923,000. Finally, HighTower Advisors LLC increased its stake in 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 valued at $234,000 after acquiring 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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