Itron, Inc. (NASDAQ:ITRI) Receives Consensus Rating of “Buy” from Analysts


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Shares of Itron, Inc. (NASDAQ:ITRI) have received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $78.14.

Several equities research analysts recently weighed in on ITRI shares. BidaskClub cut Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. ValuEngine lowered Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, December 23rd. Raymond James lowered Itron from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $78.00 to $110.00 in a research report on Friday, January 8th. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 6th. Finally, Stephens initiated coverage on Itron in a research report on Thursday, October 15th. They set an “overweight” rating on the stock.

ITRI stock traded down $2.31 during trading on Wednesday, hitting $100.69. 337,492 shares of the company’s stock were exchanged, compared to its average volume of 442,599. The business has a 50-day moving average price of $90.30 and a two-hundred day moving average price of $72.03. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -62.15 and a beta of 1.13. Itron has a 52-week low of $40.48 and a 52-week high of $108.89. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.65.

Itron (NASDAQ:ITRI) last posted its earnings results on Monday, November 2nd. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.36. The firm had revenue of $540.18 million during the quarter, compared to analysts’ expectations of $540.91 million. Itron had a positive return on equity of 9.74% and a negative net margin of 2.85%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities research analysts anticipate that Itron will post 1.48 earnings per share for the current fiscal year.

In other news, Director Thomas S. Glanville sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $78.36, for a total value of $78,360.00. Following the transaction, the director now owns 9,082 shares of the company’s stock, valued at $711,665.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.72% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Itron by 3.1% during the first quarter. FMR LLC now owns 253,752 shares of the scientific and technical instruments company’s stock worth $11,837,000 after acquiring an additional 7,614 shares during the period. American International Group Inc. boosted its position in Itron by 18.1% during the second quarter. American International Group Inc. now owns 27,954 shares of the scientific and technical instruments company’s stock worth $1,852,000 after purchasing an additional 4,275 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Itron by 5.4% during the second quarter. Advisor Group Holdings Inc. now owns 3,783 shares of the scientific and technical instruments company’s stock worth $250,000 after purchasing an additional 193 shares in the last quarter. Vanguard Group Inc. boosted its position in Itron by 2.1% during the second quarter. Vanguard Group Inc. now owns 4,110,648 shares of the scientific and technical instruments company’s stock worth $272,332,000 after purchasing an additional 86,433 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new stake in Itron during the second quarter worth $517,000. 86.47% of the stock is currently owned by institutional investors and hedge funds.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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