A number of research firms have changed their ratings and price targets for Itron (NASDAQ: ITRI):

  • 5/17/2018 – Itron was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 5/16/2018 – Itron had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $84.00 price target on the stock. They wrote, “With integration of a major competitor (Silver Spring Networks) now underway, we find conditions in place (conservative synergy assumptions, combined competitive positioning, attractive valuation, etc.) to once again become constructive on Itron.””
  • 5/14/2018 – Itron was downgraded by analysts at TheStreet from a “b” rating to a “c” rating.
  • 5/2/2018 – Itron was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Itron anticipates its adjusted EPS in 2018 will be in the range of $2.95-$3.35 and revenues will be in the band of $2.33-$2.43 billion. For first-quarter 2018, it expects adjusted EPS between 10 cents and 15 cents, while revenues are projected in the range $575-$600 million. Itron anticipates to benefit from the U.S. tax reform. The company will also gain from strong cash flow position, expansion of OpenWay Riva technology and focus on restructuring plan. Moreover, the Silver Spring acquisition will aid backlog strength. However, Itron’s results will be hurt by elevated expense, fluctuation in currency rates and intense competition. Higher costs will also impact its gross margin. The company’s shares underperformed the industry over the past year.”
  • 5/1/2018 – Itron was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $73.00 price target on the stock. According to Zacks, “Itron anticipates its adjusted EPS in 2018 will be $2.95-$3.35 and revenues will be $2.3-$2.4 billion. For first-quarter 2018, it expects adjusted EPS between 10 cents and 15 cents, while revenues are projected $575-$600 million. Itron anticipates to benefit from the U.S. tax reform. In addition, improved margin contribution from supply chain initiatives, more profitable product mix, benefits from restructuring plans and acquisition synergies will drive margins and EPS in the second half of 2018. The company will also gain from strong cash flow position, expansion of OpenWay Riva technology and focus on restructuring plan. Moreover, the Silver Spring acquisition will aid backlog strength. “
  • 4/26/2018 – Itron was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/23/2018 – Itron was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/4/2018 – Itron had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $84.00 price target on the stock. They wrote, “With integration of a major competitor (SilverSpring Networks) now underway, we find conditions in place (conservative synergy assumptions, combined competitive positioning, attractive valuation, etc.) to once again become constructive on Itron. Investment highlights While near-term financials stay somewhat in flux given purchase accounting impacts (made more complex by new accounting standards), we continue to have increased conviction in underlying demand (growth now supported by ~$3B of total contracted business with SSNI) and the prospects for out-year earnings power (towards $5+, aided by what we view as likely conservative cost-saving goals and margin tailwinds built into backlog). Reiterate BUY.””
  • 3/22/2018 – Itron is now covered by analysts at Macquarie. They set a “neutral” rating on the stock.

NASDAQ:ITRI opened at $59.70 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.67 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.06 and a beta of 1.00. Itron has a 52 week low of $60.13 and a 52 week high of $61.55.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, May 14th. The scientific and technical instruments company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The firm had revenue of $607.00 million during the quarter, compared to analyst estimates of $575.74 million. Itron had a negative net margin of 4.85% and a positive return on equity of 13.26%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. equities analysts forecast that Itron will post 3.03 earnings per share for the current year.

In other news, insider Philip Mezey sold 16,694 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $65.15, for a total transaction of $1,087,614.10. Following the completion of the sale, the insider now owns 93,341 shares in the company, valued at approximately $6,081,166.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Shannon M. Votava sold 6,661 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $71.58, for a total transaction of $476,794.38. Following the sale, the vice president now owns 16,459 shares of the company’s stock, valued at approximately $1,178,135.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,402 shares of company stock valued at $2,275,266. Company insiders own 2.32% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Itron by 1.1% during the 1st quarter. BlackRock Inc. now owns 4,672,302 shares of the scientific and technical instruments company’s stock worth $334,301,000 after purchasing an additional 52,052 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Itron by 27.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,025,961 shares of the scientific and technical instruments company’s stock worth $69,971,000 after purchasing an additional 220,700 shares during the last quarter. Marcato Capital Management LP increased its stake in shares of Itron by 8.7% during the 1st quarter. Marcato Capital Management LP now owns 937,000 shares of the scientific and technical instruments company’s stock worth $67,042,000 after purchasing an additional 75,000 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Itron by 1.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 802,785 shares of the scientific and technical instruments company’s stock worth $57,439,000 after purchasing an additional 14,103 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Itron by 1.2% during the 1st quarter. Northern Trust Corp now owns 457,381 shares of the scientific and technical instruments company’s stock worth $32,726,000 after purchasing an additional 5,321 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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