BidaskClub lowered shares of Itron (NASDAQ:ITRI) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other analysts have also recently issued reports on the company. Stephens initiated coverage on Itron in a report on Monday, July 8th. They set an equal weight rating and a $64.00 target price for the company. Oppenheimer boosted their target price on Itron from $60.00 to $68.00 and gave the stock an outperform rating in a report on Tuesday, May 7th. Zacks Investment Research upgraded Itron from a hold rating to a buy rating and set a $67.00 target price for the company in a report on Monday, May 13th. Citigroup boosted their target price on Itron from $68.00 to $75.00 and gave the stock an outperform rating in a report on Monday, July 1st. Finally, Robert W. Baird upgraded Itron from a neutral rating to an outperform rating and boosted their target price for the stock from $56.00 to $62.00 in a report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $68.70.

Shares of NASDAQ:ITRI opened at $68.00 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 1.39. Itron has a 1 year low of $44.35 and a 1 year high of $69.09. The stock has a market cap of $2.68 billion, a PE ratio of 25.66, a P/E/G ratio of 0.94 and a beta of 1.20. The business’s 50-day moving average price is $62.49.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.39. Itron had a return on equity of 19.51% and a net margin of 2.52%. The business had revenue of $635.04 million during the quarter, compared to analysts’ expectations of $598.59 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that Itron will post 2.91 EPS for the current year.

In other Itron news, Director Thomas S. Glanville sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $66.38, for a total value of $199,140.00. Following the completion of the transaction, the director now owns 13,007 shares in the company, valued at approximately $863,404.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 17,272 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $57.31, for a total value of $989,858.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,252 shares of company stock valued at $8,138,812. 2.35% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRI. Bank of New York Mellon Corp boosted its holdings in Itron by 113.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 898,225 shares of the scientific and technical instruments company’s stock worth $56,201,000 after acquiring an additional 478,329 shares during the period. Norges Bank purchased a new position in Itron in the 4th quarter worth approximately $18,557,000. Neuberger Berman Group LLC boosted its holdings in Itron by 48.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,159,467 shares of the scientific and technical instruments company’s stock worth $54,087,000 after acquiring an additional 378,967 shares during the period. Prudential Financial Inc. boosted its holdings in Itron by 571.9% in the 2nd quarter. Prudential Financial Inc. now owns 370,833 shares of the scientific and technical instruments company’s stock worth $23,203,000 after acquiring an additional 315,640 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Itron in the 1st quarter worth approximately $9,592,000. Hedge funds and other institutional investors own 97.55% of the company’s stock.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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