Itron (NASDAQ:ITRI) Lowered to Outperform at Credit Suisse Group

Credit Suisse Group downgraded shares of Itron (NASDAQ:ITRI) to an outperform rating in a research report released on Tuesday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird raised shares of Itron from a neutral rating to an outperform rating and boosted their target price for the stock from $56.00 to $62.00 in a research report on Tuesday, May 7th. Stephens started coverage on shares of Itron in a research report on Monday, July 8th. They issued an equal weight rating and a $64.00 target price for the company. ValuEngine raised shares of Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Oppenheimer boosted their target price on shares of Itron from $60.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. Finally, Zacks Investment Research raised shares of Itron from a hold rating to a buy rating and set a $67.00 target price for the company in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $69.00.

ITRI opened at $67.09 on Tuesday. The company has a 50-day moving average of $63.78 and a 200-day moving average of $57.23. The company has a market capitalization of $2.71 billion, a P/E ratio of 19.17, a PEG ratio of 0.94 and a beta of 1.20. Itron has a 1-year low of $44.35 and a 1-year high of $71.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.44.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The company had revenue of $635.04 million during the quarter, compared to the consensus estimate of $598.59 million. Itron had a net margin of 2.52% and a return on equity of 19.51%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that Itron will post 2.91 earnings per share for the current fiscal year.

In related news, Director Thomas S. Glanville sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $66.38, for a total transaction of $199,140.00. Following the completion of the sale, the director now owns 13,007 shares of the company’s stock, valued at approximately $863,404.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Philip Mezey sold 31,414 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $62.98, for a total transaction of $1,978,453.72. Following the sale, the insider now directly owns 74,624 shares of the company’s stock, valued at approximately $4,699,819.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,894 shares of company stock valued at $3,984,263. Insiders own 2.35% of the company’s stock.

Several large investors have recently made changes to their positions in ITRI. Bank of America Corp DE boosted its stake in Itron by 148.1% during the fourth quarter. Bank of America Corp DE now owns 50,984 shares of the scientific and technical instruments company’s stock valued at $2,410,000 after buying an additional 30,436 shares during the last quarter. Norges Bank bought a new position in Itron during the fourth quarter valued at approximately $18,557,000. Geode Capital Management LLC boosted its stake in Itron by 9.5% during the fourth quarter. Geode Capital Management LLC now owns 390,825 shares of the scientific and technical instruments company’s stock valued at $18,482,000 after buying an additional 33,782 shares during the last quarter. Foundry Partners LLC boosted its stake in Itron by 9.0% during the first quarter. Foundry Partners LLC now owns 245,468 shares of the scientific and technical instruments company’s stock valued at $11,451,000 after buying an additional 20,219 shares during the last quarter. Finally, Investec Asset Management LTD boosted its stake in Itron by 2.4% during the first quarter. Investec Asset Management LTD now owns 50,653 shares of the scientific and technical instruments company’s stock valued at $2,363,000 after buying an additional 1,199 shares during the last quarter. 97.85% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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