Itron (ITRI) Upgraded to “Buy” at BidaskClub

Itron (NASDAQ:ITRI) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Itron from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. JMP Securities set a $102.00 price target on shares of Itron and gave the company a “buy” rating in a research report on Thursday, October 12th. Argus lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Raymond James Financial started coverage on shares of Itron in a research report on Tuesday, January 2nd. They issued a “strong-buy” rating and a $84.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of Itron in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $82.18.

Itron (NASDAQ:ITRI) traded up $0.65 during trading hours on Friday, hitting $74.80. 150,917 shares of the stock were exchanged, compared to its average volume of 257,384. Itron has a 12 month low of $57.80 and a 12 month high of $79.95. The company has a market capitalization of $2,896.63, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The firm had revenue of $486.75 million during the quarter, compared to the consensus estimate of $526.55 million. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. research analysts expect that Itron will post 2.99 EPS for the current fiscal year.

In other Itron news, COO Thomas Deitrich sold 11,899 shares of Itron stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.27, for a total transaction of $824,243.73. Following the sale, the chief operating officer now owns 82,776 shares in the company, valued at $5,733,893.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Scopia Capital Management Lp purchased 75,193 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were acquired at an average price of $67.34 per share, for a total transaction of $5,063,496.62. The disclosure for this purchase can be found here. Insiders have purchased 750,261 shares of company stock worth $51,839,736 in the last ninety days. 2.03% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ITRI. Point72 Asset Management L.P. acquired a new stake in Itron during the third quarter worth $23,661,000. Cramer Rosenthal Mcglynn LLC acquired a new stake in Itron during the third quarter worth $18,102,000. Renaissance Technologies LLC boosted its stake in Itron by 38.1% during the second quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock worth $48,757,000 after buying an additional 198,700 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Itron by 13.5% during the third quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock worth $53,351,000 after buying an additional 82,196 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Itron during the second quarter worth $4,886,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

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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. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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