Itron Stock Rating Reaffirmed by Zacks (ITRI)
Itron (NASDAQ:ITRI)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports. They currently have a $45.00 price objective on the stock. Zacks‘ target price would indicate a potential upside of 4.87% from the stock’s previous close.
Zacks‘ analyst wrote, “Itron’s third-quarter 2013 adjusted earnings declined 33% year over year to $0.65 per share due to fall in revenues and gross profit. Going forward, the company will benefit from new contracts and continuous focus on lowering costs through restructuring. Conversely, Itron is expecting to report full-year 2013 earnings and revenues in the lower end of the guided range. Though the company will gain from further share repurchases, additional costs related to BC Hydro project remains a concern for the Energy segment. Moreover, delay in contracts and rise in expenses could challenge future growth. We reiterate our Neutral recommendation on Itron, with a target price of $45.00.”
A number of other analysts have also recently weighed in on ITRI. Analysts at Argus downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 8th. Separately, analysts at Wedbush raised their price target on shares of Itron from $45.00 to $51.00 in a research note to investors on Friday, November 1st. They now have an “outperform” rating on the stock. Finally, analysts at Janney Montgomery Scott downgraded shares of Itron from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, October 31st. They now have a $40.00 price target on the stock, down previously from $48.00. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.11.
Shares of Itron (NASDAQ:ITRI) traded down 1.65% during mid-day trading on Friday, hitting $42.20. 134,761 shares of the company’s stock traded hands. Itron has a 52 week low of $37.01 and a 52 week high of $48.42. The stock has a 50-day moving average of $40.85 and a 200-day moving average of $41.67. The company has a market cap of $1.652 billion and a P/E ratio of 73.10.
Itron, Inc(NASDAQ:ITRI) is a technology company and one of the global suppliers of a broad range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software and services.
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