Itron, Inc. (NASDAQ:ITRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Itron's acquisition of Silver Spring Networks will produce synergies of $50 million a year, add to gross margin in the first year after the deal closes and add to adjusted earnings per share in the second year. 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 Comverge acquisition, strong bookings and backlog, and new projects are anticipated to fuel growth. The company has a positive record of earnings surprises in the last few quarters. Its estimates have gone up lately.  However, elevated expenses and fluctuation in currency rates may mar income in the near term. The stock underperformed the industry over the past year. “

ITRI has been the topic of a number of other reports. BidaskClub cut shares of 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 shares of Itron and gave the company a “buy” rating in a research note on Tuesday, July 18th. Canaccord Genuity reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Itron in a research note on Friday, July 14th. Robert W. Baird cut shares of Itron from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $77.00 in a research report on Wednesday, July 26th. They noted that the move was a valuation call. Finally, Cowen and Company set a $74.00 price target on shares of Itron and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $80.22.

Shares of Itron (NASDAQ:ITRI) traded down 0.33% during midday trading on Tuesday, hitting $76.25. The stock had a trading volume of 110,339 shares. The stock has a 50-day moving average of $72.40 and a 200 day moving average of $67.35. Itron has a 52 week low of $51.55 and a 52 week high of $77.40. The stock has a market cap of $2.95 billion, a PE ratio of 94.37 and a beta of 1.08.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data 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. Itron had a net margin of 1.60% and a return on equity of 15.43%. The firm had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $491.80 million. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts anticipate that Itron will post $3.07 EPS for the current fiscal year.

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Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Itron by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock worth $109,000 after acquiring an additional 31 shares during the period. SG Americas Securities LLC raised its holdings in shares of Itron by 1.5% during the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after acquiring an additional 36 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in shares of Itron by 0.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock worth $656,000 after acquiring an additional 60 shares during the period. Hanseatic Management Services Inc. raised its holdings in shares of Itron by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 23,807 shares of the scientific and technical instruments company’s stock worth $1,613,000 after acquiring an additional 61 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Itron by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the scientific and technical instruments company’s stock worth $928,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 93.66% of the company’s stock.

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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