Brokerages Set Itron, Inc. (ITRI) Price Target at $82.00
Shares of Itron, Inc. (NASDAQ:ITRI) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $82.44.
Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued a “hold” rating and issued a $77.00 price objective on shares of Itron in a research report on Tuesday, September 12th. Canaccord Genuity cut Itron from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Tuesday, September 19th. Zacks Investment Research cut Itron from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of Itron in a research report on Friday, November 3rd. Finally, Argus reissued a “buy” rating and issued a $80.00 price objective (up from $78.00) on shares of Itron in a research report on Tuesday, September 12th.
In related news, COO Thomas Deitrich sold 11,899 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $69.27, for a total value of $824,243.73. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Scopia Capital Management Lp bought 75,193 shares of Itron stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average cost of $67.34 per share, with a total value of $5,063,496.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 750,261 shares of company stock valued at $51,839,736. 2.03% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in 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 in the last quarter. Pacad Investment Ltd. raised its stake in 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 in the last quarter. Macquarie Group Ltd. acquired a new position in Itron during the third quarter worth $152,000. Riverhead Capital Management LLC raised its stake in 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 in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Itron during the third quarter worth $218,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Itron (NASDAQ ITRI) traded up $0.80 on Tuesday, hitting $70.20. The stock had a trading volume of 283,400 shares, compared to its average volume of 430,775. Itron has a 12 month low of $57.80 and a 12 month high of $79.95. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2,740.00, a PE ratio of 41.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million during the quarter, compared to the consensus estimate of $526.55 million. During the same period in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. equities research analysts anticipate that Itron will post 2.99 EPS for the current fiscal year.
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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.
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