Canaccord Genuity Lowers Itron, Inc. (ITRI) to Hold

Canaccord Genuity downgraded shares of Itron, Inc. (NASDAQ:ITRI) from a buy rating to a hold rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $78.00 price objective on the scientific and technical instruments company’s stock.

A number of other analysts have also commented on the company. Zacks Investment Research upgraded Itron from a hold rating to a buy rating and set a $82.00 price target on the stock in a report on Monday. Robert W. Baird reiterated a hold rating and set a $77.00 price target on shares of Itron in a report on Tuesday, September 12th. Argus reiterated a buy rating and set a $80.00 price target (up from $78.00) on shares of Itron in a report on Tuesday, September 12th. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $78.00 price target (up from $75.00) on shares of Itron in a report on Friday, August 4th. Finally, Needham & Company LLC reiterated a buy rating and set a $84.00 price target (up from $74.00) on shares of Itron in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Itron presently has a consensus rating of Buy and a consensus price target of $80.22.

Itron (NASDAQ:ITRI) traded up 1.022% on Tuesday, hitting $76.625. The company had a trading volume of 28,761 shares. The stock has a 50 day moving average of $72.49 and a 200-day moving average of $67.47. The stock has a market capitalization of $2.97 billion, a PE ratio of 94.833 and a beta of 1.08. Itron has a one year low of $51.55 and a one year high of $77.40.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $503.10 million for the quarter, compared to analyst estimates of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. Itron’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Equities analysts anticipate that Itron will post $3.07 EPS for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in shares of Itron by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after buying an additional 31 shares during the period. LS Investment Advisors LLC raised its stake in shares of 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 valued at $115,000 after buying an additional 681 shares during the period. Pacad Investment Ltd. raised its stake in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 300 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Itron by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 897 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of 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 valued at $144,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 93.66% of the company’s stock.

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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