Itron Inc. (ITRI) Given Consensus Rating of “Buy” by Analysts
Shares of Itron Inc. (NASDAQ:ITRI) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $54.71.
ITRI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of Itron in a research note on Monday, October 3rd. Needham & Company LLC boosted their target price on Itron from $46.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. TheStreet upgraded Itron from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Finally, Robert W. Baird set a $56.00 target price on Itron and gave the stock a “buy” rating in a research note on Sunday, September 4th.
In related news, Director Thomas S. Glanville sold 4,000 shares of Itron stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total value of $212,600.00. Following the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $1,104,616.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas S. Glanville sold 1,226 shares of Itron stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $56.50, for a total transaction of $69,269.00. Following the completion of the sale, the director now directly owns 18,453 shares in the company, valued at approximately $1,042,594.50. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
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Several large investors have recently bought and sold shares of the company. Scopia Capital Management LP boosted its stake in Itron by 26.6% in the first quarter. Scopia Capital Management LP now owns 4,475,083 shares of the company’s stock worth $186,700,000 after buying an additional 940,900 shares during the period. Vanguard Group Inc. boosted its stake in shares of Itron by 9.0% in the second quarter. Vanguard Group Inc. now owns 3,145,447 shares of the company’s stock worth $135,568,000 after buying an additional 260,300 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Itron by 1.0% in the first quarter. BlackRock Fund Advisors now owns 2,418,347 shares of the company’s stock worth $100,893,000 after buying an additional 24,259 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Itron by 35.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,773,931 shares of the company’s stock worth $76,456,000 after buying an additional 459,922 shares during the last quarter. Finally, Impax Asset Management LTD boosted its stake in shares of Itron by 3.4% in the second quarter. Impax Asset Management LTD now owns 1,443,484 shares of the company’s stock worth $62,213,000 after buying an additional 48,095 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.
Shares of Itron (NASDAQ:ITRI) traded up 0.68% during midday trading on Tuesday, reaching $55.00. The company had a trading volume of 104,927 shares. The firm has a market capitalization of $2.10 billion, a P/E ratio of 41.11 and a beta of 1.43. Itron has a one year low of $29.02 and a one year high of $57.25. The company has a 50 day moving average price of $54.20 and a 200-day moving average price of $45.93.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.22. The business earned $513.02 million during the quarter. Itron had a return on equity of 10.94% and a net margin of 2.62%. Itron’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) EPS. On average, analysts anticipate that Itron will post $2.37 EPS for the current fiscal year.
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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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