Itron, Inc. (ITRI) Downgraded by Canaccord Genuity to Hold
Itron, Inc. (NASDAQ:ITRI) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Several other brokerages have also weighed in on ITRI. Robert W. Baird reissued an “outperform” rating and set a $73.00 target price on shares of Itron in a research report on Thursday, July 13th. Zacks Investment Research lowered Itron from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. JMP Securities set a $88.00 target price on Itron and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Cowen and Company set a $60.00 target price on Itron and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 target price (up previously from $74.00) on shares of Itron in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $80.22.
Itron (NASDAQ:ITRI) opened at 76.50 on Tuesday. The firm has a 50-day moving average price of $72.40 and a 200 day moving average price of $67.35. Itron has a 1-year low of $51.55 and a 1-year high of $77.40. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 94.68 and a beta of 1.08.
Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $503.10 million for the quarter, compared to analyst estimates of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. Itron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. On average, 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 bought and sold shares of the company. Delta Lloyd Asset Management N.V. acquired a new position in Itron during the second quarter worth $4,743,000. Credit Suisse AG raised its holdings in Itron by 25.0% during 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 purchasing an additional 21,368 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Itron by 4.2% during 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 purchasing an additional 18,598 shares during the last quarter. Redwood Investments LLC acquired a new position in Itron during the first quarter worth $6,923,000. Finally, HighTower Advisors LLC raised its holdings in Itron by 5.9% during the first quarter. HighTower Advisors LLC now owns 3,845 shares of the scientific and technical instruments company’s stock worth $234,000 after purchasing an additional 214 shares during the last quarter. 93.66% of the stock is owned by institutional investors and hedge funds.
Itron Company Profile
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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