Itron, Inc. (ITRI) Given Buy Rating at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Itron, Inc. (NASDAQ:ITRI) in a report released on Friday. They currently have a $84.00 target price on the scientific and technical instruments company’s stock.
Other research analysts have also recently issued research reports about the company. Cowen and Company set a $60.00 price objective on Itron and gave the stock a hold rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $78.00 price objective (up previously from $75.00) on shares of Itron in a research note on Friday, August 4th. Robert W. Baird reissued a hold rating and issued a $77.00 price objective on shares of Itron in a research note on Tuesday, September 12th. BidaskClub cut Itron from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity cut Itron from a buy rating to a hold rating and set a $78.00 price objective on the stock. in a research note on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $81.78.
Shares of Itron (NASDAQ ITRI) traded down $8.92 on Friday, reaching $69.38. 345,853 shares of the company were exchanged, compared to its average volume of 200,950. The stock has a market capitalization of $2,686.55, a PE ratio of 25.41, a P/E/G ratio of 1.11 and a beta of 1.07. The company has a quick ratio of 1.18, a current ratio of 1.67 and a debt-to-equity ratio of 0.38.
Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $526.55 million. During the same period last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities research analysts forecast that Itron will post 3 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in Itron by 45.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,806 shares of the scientific and technical instruments company’s stock valued at $2,076,000 after acquiring an additional 8,317 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of Itron during the 3rd quarter valued at $461,000. FDx Advisors Inc. purchased a new stake in shares of Itron during the 3rd quarter valued at $355,000. Global X MANAGEMENT CO LLC lifted its holdings in shares of Itron by 15.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 17,019 shares of the scientific and technical instruments company’s stock valued at $1,318,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Itron during the 3rd quarter valued at $620,000. 93.49% of the stock is currently owned by institutional investors and hedge funds.
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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