Itron, Inc. (NASDAQ:ITRI) Lowered to Buy at BidaskClub
BidaskClub cut shares of Itron, Inc. (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a research note published on Thursday morning.
ITRI has been the topic of several other reports. Canaccord Genuity reaffirmed a buy rating and set a $78.00 target price on shares of Itron in a report on Friday, July 14th. Guggenheim assumed coverage on Itron in a report on Tuesday, June 20th. They set a buy rating and a $81.00 target price on the stock. Robert W. Baird lowered Itron from an outperform rating to a neutral rating and raised their target price for the stock from $73.00 to $77.00 in a report on Wednesday, July 26th. They noted that the move was a valuation call. Zacks Investment Research lowered Itron from a buy rating to a hold rating in a report on Thursday, May 18th. Finally, Cowen and Company set a $60.00 price objective on Itron and gave the company a hold rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $75.00.
Itron (ITRI) traded up 0.69% on Thursday, hitting $73.00. The stock had a trading volume of 104,705 shares. Itron has a 12 month low of $40.53 and a 12 month high of $75.60. The stock has a market cap of $2.82 billion, a P/E ratio of 75.88 and a beta of 1.08. The company’s 50 day moving average is $70.14 and its 200-day moving average is $64.89.
Itron (NASDAQ:ITRI) last posted its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $477.59 million for the quarter, compared to analyst estimates of $454.20 million. Itron had a return on equity of 15.51% and a net margin of 1.88%. Analysts forecast that Itron will post $3.02 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Itron by 153,249.9% in the first quarter. BlackRock Inc. now owns 4,339,801 shares of the scientific and technical instruments company’s stock valued at $263,427,000 after buying an additional 4,336,971 shares during the last quarter. Wellington Management Group LLP increased its position in Itron by 65.7% in the first quarter. Wellington Management Group LLP now owns 1,786,445 shares of the scientific and technical instruments company’s stock valued at $108,437,000 after buying an additional 708,009 shares during the period. Vanguard Group Inc. increased its position in Itron by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,795,716 shares of the scientific and technical instruments company’s stock valued at $230,400,000 after buying an additional 271,194 shares during the period. Norges Bank purchased a new position in Itron during the fourth quarter valued at $15,064,000. Finally, Teachers Advisors LLC increased its position in Itron by 376.4% in the fourth quarter. Teachers Advisors LLC now owns 276,822 shares of the scientific and technical instruments company’s stock valued at $17,398,000 after buying an additional 218,716 shares during the period. 94.55% of the stock is currently owned by institutional investors.
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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