Itron, Inc. (NASDAQ:ITRI)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday. They presently have a $84.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $74.00. Needham & Company LLC’s price target points to a potential upside of 16.59% from the stock’s previous close.
ITRI has been the subject of several other research reports. BidaskClub cut Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Cowen and Company set a $74.00 price objective on Itron and gave the company a “hold” rating in a report on Thursday. Canaccord Genuity restated a “buy” rating and issued a $78.00 price objective on shares of Itron in a report on Friday, July 14th. Guggenheim assumed coverage on shares of Itron in a research note on Tuesday, June 20th. They issued a “buy” rating and a $81.00 target price for the company. Finally, Robert W. Baird downgraded shares of Itron from an “outperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $77.00 in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $79.00.
Shares of Itron (NASDAQ:ITRI) traded down 0.48% during mid-day trading on Thursday, hitting $72.05. The company’s stock had a trading volume of 182,334 shares. Itron has a 1-year low of $40.53 and a 1-year high of $75.60. The stock has a market cap of $2.79 billion, a PE ratio of 89.17 and a beta of 1.10. The company has a 50-day moving average price of $70.29 and a 200-day moving average price of $65.06.
Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $503.10 million during the quarter, compared to analysts’ expectations of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. Itron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Analysts predict that Itron will post $3.07 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Redwood Investments LLC increased its stake in shares of Itron by 12.2% in the second quarter. Redwood Investments LLC now owns 127,955 shares of the scientific and technical instruments company’s stock valued at $8,669,000 after buying an additional 13,896 shares during the period. Marshall Wace North America L.P. increased its stake in shares of Itron by 48.2% in the second quarter. Marshall Wace North America L.P. now owns 19,962 shares of the scientific and technical instruments company’s stock valued at $1,357,000 after buying an additional 6,495 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Itron during the second quarter valued at about $213,000. KBC Group NV increased its stake in shares of Itron by 1.9% in the second quarter. KBC Group NV now owns 103,010 shares of the scientific and technical instruments company’s stock valued at $6,979,000 after buying an additional 1,907 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Itron by 26.5% in the second quarter. BNP Paribas Arbitrage SA now owns 18,489 shares of the scientific and technical instruments company’s stock valued at $1,253,000 after buying an additional 3,871 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
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.
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