Itron, Inc. (ITRI) Given a $60.00 Price Target by Cowen and Company Analysts
Itron, Inc. (NASDAQ:ITRI) has been given a $60.00 price objective by stock analysts at Cowen and Company in a research report issued to clients and investors on Friday. The brokerage currently has a “hold” rating on the scientific and technical instruments company’s stock. Cowen and Company’s target price would suggest a potential downside of 18.48% from the company’s current price.
ITRI has been the subject of a number of other research reports. Zacks Investment Research upgraded Itron from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Canaccord Genuity restated a “buy” rating and issued a $78.00 price target on shares of Itron in a research report on Friday, July 14th. JMP Securities set a $88.00 price target on Itron and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Guggenheim initiated coverage on Itron in a research report on Tuesday, June 20th. They issued a “buy” rating and a $81.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.50.
Itron (NASDAQ:ITRI) traded down 0.74% on Friday, reaching $73.60. The company’s stock had a trading volume of 254,891 shares. The stock has a market cap of $2.84 billion, a P/E ratio of 76.51 and a beta of 1.08. Itron has a one year low of $40.53 and a one year high of $75.60. The stock has a 50-day moving average of $69.50 and a 200-day moving average of $64.49.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $477.59 million during the quarter, compared to analysts’ expectations of $454.20 million. Itron had a return on equity of 15.51% and a net margin of 1.88%. On average, analysts predict that Itron will post $3.02 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 in the last quarter. Wellington Management Group LLP boosted its stake 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 in the last quarter. Vanguard Group Inc. boosted its stake 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 in the last quarter. Norges Bank acquired a new stake in Itron during the fourth quarter valued at about $15,064,000. Finally, Teachers Advisors LLC boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 94.53% of the company’s stock.
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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