Northland Securities Initiates Coverage on Itron (ITRI)
Northland Securities assumed coverage on shares of Itron (NASDAQ:ITRI) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating and a $40.00 price target on the stock. Northland Securities’ price objective points to a potential upside of 0.50% from the stock’s previous close.
Shares of Itron (NASDAQ:ITRI) traded down 0.83% on Tuesday, hitting $39.47. 25,156 shares of the company’s stock traded hands. Itron has a 1-year low of $32.30 and a 1-year high of $46.09. The stock’s 50-day moving average is $39.29 and its 200-day moving average is $37.8. The company’s market cap is $1.549 billion.
Itron (NASDAQ:ITRI) last released its earnings data on Tuesday, August 5th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.18. The company had revenue of $489.00 million for the quarter, compared to the consensus estimate of $465.61 million. During the same quarter last year, the company posted $0.58 earnings per share. Itron’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Itron will post $1.66 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ITRI. Analysts at Zacks reiterated a “neutral” rating on shares of Itron in a research note on Friday. They now have a $41.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Itron in a research note on Wednesday, August 6th. They now have a $31.00 price target on the stock, up previously from $30.00. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Itron in a research note on Wednesday, August 6th. They now have a $35.00 price target on the stock, up previously from $32.00. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $40.09.
Itron, Inc (NASDAQ:ITRI) is a technology and services company.
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