Cowen reaffirmed their buy rating on shares of Itron (NASDAQ:ITRI) in a research note published on Friday. The firm currently has a $80.00 price target on the scientific and technical instruments company’s stock.
A number of other equities analysts also recently commented on the stock. Argus downgraded shares of Itron from a buy rating to a hold rating in a research report on Thursday. JMP Securities set a $80.00 price objective on shares of Itron and gave the stock a buy rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Itron from a hold rating to a sell rating in a research report on Tuesday, October 9th. ValuEngine downgraded shares of Itron from a hold rating to a sell rating in a research report on Monday, October 8th. Finally, BidaskClub downgraded shares of Itron from a sell rating to a strong sell rating in a report on Tuesday, September 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $77.00.
Itron stock traded down $1.86 during trading hours on Friday, reaching $53.99. 379,937 shares of the stock were exchanged, compared to its average volume of 269,883. The company has a market cap of $2.18 billion, a P/E ratio of 17.64, a PEG ratio of 0.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.18 and a current ratio of 1.41. Itron has a 52-week low of $49.59 and a 52-week high of $77.40.
Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Monday, November 5th. The scientific and technical instruments company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.24. The company had revenue of $595.96 million during the quarter, compared to the consensus estimate of $604.98 million. Itron had a negative net margin of 5.19% and a positive return on equity of 15.20%. Itron’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts predict that Itron will post 2.46 earnings per share for the current year.
In other news, insider Philip Mezey sold 16,694 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $65.04, for a total value of $1,085,777.76. Following the completion of the transaction, the insider now owns 93,341 shares in the company, valued at approximately $6,070,898.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.03% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in shares of Itron in the 3rd quarter valued at about $202,000. BSW Wealth Partners purchased a new position in shares of Itron in the 3rd quarter valued at about $244,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Itron in the 2nd quarter valued at about $271,000. Cubist Systematic Strategies LLC increased its holdings in shares of Itron by 21.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock valued at $308,000 after purchasing an additional 909 shares in the last quarter. Finally, CAPROCK Group Inc. increased its holdings in Itron by 28.7% during the 2nd quarter. CAPROCK Group Inc. now owns 6,035 shares of the scientific and technical instruments company’s stock valued at $362,000 after acquiring an additional 1,346 shares in the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
Itron Company Profile
Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.
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