Itron (ITRI) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Itron (NASDAQ:ITRI) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Itron anticipates 2017 adjusted earnings per share to be at or above the lower-end of the previous guidance range of $2.95-$3.15. It also estimates revenues to be at or modestly below the lower-end of the prior projection of $2.03-$2.06 billion. The company’s revenue outlook will be affected by the impact of market-driven delays in its water projects. Fluctuation in currency rates as well as increased competition in the advanced metering infrastructure (AMI) space will adversely affect its performance. The company’s shares also underperformed the industry over the past year.”

ITRI has been the topic of a number of other research reports. BidaskClub lowered Itron from a buy rating to a hold rating in a research report on Friday, December 22nd. Argus lowered Itron from a buy rating to a hold rating in a research report on Wednesday, November 29th. Canaccord Genuity reaffirmed a hold rating and issued a $78.00 price target on shares of Itron in a research report on Friday, October 6th. UBS Group began coverage on 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, Raymond James Financial began coverage on Itron in a research report on Tuesday, January 2nd. They issued a strong-buy rating and a $84.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $82.18.

Shares of Itron (ITRI) traded up $0.50 during trading on Tuesday, reaching $71.70. The company had a trading volume of 248,521 shares, compared to its average volume of 320,713. Itron has a 12 month low of $57.80 and a 12 month high of $79.95. The stock has a market cap of $2,757.24, a PE ratio of 41.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38.

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

In other news, COO Thomas Deitrich sold 11,899 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was 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 of the company’s stock, valued at approximately $5,733,893.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Scopia Capital Management Lp bought 541,753 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were acquired at an average cost of $69.44 per share, for a total transaction of $37,619,328.32. The disclosure for this purchase can be found here. Insiders have bought a total of 750,261 shares of company stock worth $51,839,736 in the last three months. Corporate insiders own 2.03% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Itron by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock worth $109,000 after acquiring an additional 31 shares in the last quarter. Pacad Investment Ltd. raised its position in shares of Itron by 21.4% during the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after acquiring an additional 300 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Itron by 74.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock worth $142,000 after acquiring an additional 897 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Itron during the 3rd quarter worth about $152,000. Finally, Royal Bank of Canada raised its position in shares of Itron by 10.9% during the 2nd quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock worth $206,000 after acquiring an additional 299 shares in the last quarter. 93.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

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