UBS Group started coverage on shares of Itron (NASDAQ:ITRI) in a research report sent to investors on Tuesday morning, The Fly reports. The brokerage issued a strong-buy rating and a $84.00 price objective on the scientific and technical instruments company’s stock.

ITRI has been the topic of several other reports. Argus reaffirmed a buy rating and issued a $80.00 price target (up from $78.00) on shares of Itron in a report on Tuesday, September 12th. Zacks Investment Research raised shares of Itron from a hold rating to a buy rating and set a $81.00 price target on the stock in a report on Monday, September 11th. Needham & Company LLC reaffirmed a buy rating and issued a $84.00 price target on shares of Itron in a report on Friday, November 3rd. JMP Securities set a $102.00 price target on shares of Itron and gave the company a buy rating in a report on Thursday, October 12th. Finally, BidaskClub raised shares of Itron from a hold rating to a buy rating in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $82.18.

Itron (NASDAQ ITRI) traded down $0.75 during midday trading on Tuesday, hitting $69.40. 411,300 shares of the stock were exchanged, compared to its average volume of 479,900. Itron has a twelve month low of $57.80 and a twelve month high of $79.95. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2,740.00, a PE ratio of 40.58, a P/E/G ratio of 0.94 and a beta of 1.00.

Itron (NASDAQ:ITRI) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). Itron had a return on equity of 14.84% and a net margin of 3.42%. The firm had revenue of $486.75 million for the quarter, compared to analyst estimates of $526.55 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. equities analysts forecast that Itron will post 2.99 earnings per share for the current fiscal year.

In other Itron news, COO Thomas Deitrich sold 11,899 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.27, for a total transaction of $824,243.73. Following the sale, the chief operating officer now directly owns 82,776 shares of the company’s stock, valued at $5,733,893.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Scopia Capital Management Lp bought 541,753 shares of the company’s stock in a transaction on Friday, December 8th. The shares were acquired at an average cost of $69.44 per share, for a total transaction of $37,619,328.32. The disclosure for this purchase can be found here. Insiders have acquired 750,261 shares of company stock worth $51,839,736 over the last three months. 2.03% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. 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 purchasing an additional 31 shares during the period. Pacad Investment Ltd. grew its position in shares of Itron by 21.4% during the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after acquiring an additional 300 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Itron during the third quarter worth about $152,000. Riverhead Capital Management LLC grew its position in shares of Itron by 74.8% during the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock worth $142,000 after acquiring an additional 897 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Itron during the third quarter worth about $218,000. 93.54% of the stock is currently owned by institutional investors.

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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.

The Fly

Analyst Recommendations for Itron (NASDAQ:ITRI)

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