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Itron, Inc. (NASDAQ:ITRI) Earns “Buy” Rating from Canaccord Genuity
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A number of other research firms have also commented on ITRI. Robert W. Baird restated an outperform rating and set a $73.00 price target on shares of Itron in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of Itron from a hold rating to a buy rating and set a $72.00 price target for the company in a research report on Tuesday, May 2nd. BidaskClub lowered shares of Itron from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. Finally, Guggenheim started coverage on shares of Itron in a research report on Tuesday, June 20th. They set a buy rating and a $81.00 price target for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Itron has an average rating of Buy and an average target price of $73.25.
Itron (NASDAQ ITRI) traded up 1.27% during midday trading on Friday, reaching $72.00. The company’s stock had a trading volume of 143,592 shares. The stock has a 50-day moving average price of $67.99 and a 200 day moving average price of $63.90. Itron has a 12 month low of $40.53 and a 12 month high of $72.00. The company has a market cap of $2.78 billion, a PE ratio of 74.84 and a beta of 1.08.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $477.59 million during the quarter, compared to analyst estimates of $454.20 million. Itron had a net margin of 1.88% and a return on equity of 15.51%. Analysts expect that Itron will post $3.02 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC increased its stake in Itron by 56.2% in the first quarter. LS Investment Advisors LLC now owns 1,892 shares of the scientific and technical instruments company’s stock worth $115,000 after buying an additional 681 shares in the last quarter. SG Americas Securities LLC increased its stake in Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after buying an additional 36 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Itron by 21.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock worth $152,000 after buying an additional 444 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Itron during the first quarter worth about $175,000. Finally, State of Alaska Department of Revenue increased its stake in Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 80 shares in the last quarter. 94.53% of the stock is owned by institutional investors.
About Itron
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.