Brokerages Set Itron Inc. (NASDAQ:ITRI) PT at $52.25
Shares of Itron Inc. (NASDAQ:ITRI) have received an average rating of “Buy” from the nine research firms that are covering the firm. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $52.25.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Itron from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Friday, September 9th. TheStreet upgraded Itron from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Robert W. Baird reiterated an “outperform” rating and set a $47.00 price target on shares of Itron in a report on Saturday, August 13th. Needham & Company LLC lifted their price target on Itron from $46.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 2nd. Finally, Cowen and Company reissued a “market perform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Itron in a research report on Sunday, September 4th.
In related news, Director Thomas S. Glanville sold 4,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $53.15, for a total transaction of $212,600.00. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at approximately $1,104,616.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Scopia Capital Management Lp acquired 83,303 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average cost of $53.84 per share, with a total value of $4,485,033.52. The disclosure for this purchase can be found here. 2.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. PineBridge Investments L.P. boosted its position in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock valued at $207,000 after buying an additional 175 shares in the last quarter. Arizona State Retirement System boosted its position in Itron by 1.0% in the second quarter. Arizona State Retirement System now owns 19,634 shares of the company’s stock valued at $846,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. boosted its position in Itron by 2.2% in the second quarter. Capstone Asset Management Co. now owns 11,586 shares of the company’s stock valued at $499,000 after buying an additional 250 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Itron by 8.1% in the second quarter. Teacher Retirement System of Texas now owns 5,048 shares of the company’s stock valued at $218,000 after buying an additional 377 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Itron by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,388 shares of the company’s stock valued at $1,353,000 after buying an additional 378 shares in the last quarter. 96.92% of the stock is owned by institutional investors and hedge funds.
Shares of Itron (NASDAQ:ITRI) opened at 52.60 on Tuesday. Itron has a 52 week low of $29.02 and a 52 week high of $54.49. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 39.31 and a beta of 1.66. The firm’s 50-day moving average price is $47.43 and its 200-day moving average price is $43.57.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.22. Itron had a return on equity of 10.94% and a net margin of 2.62%. The business had revenue of $513.02 million for the quarter. During the same quarter in the prior year, the firm posted ($0.39) EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that Itron will post $2.33 EPS for the current fiscal year.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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