Itron Inc. (NASDAQ:ITRI)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a report issued on Monday. They currently have a $61.00 price target on the stock, up from their prior price target of $57.00. Canaccord Genuity’s price objective points to a potential upside of 8.48% from the stock’s current price.
Other equities analysts have also issued reports about the company. Robert W. Baird set a $56.00 target price on Itron and gave the company a “buy” rating in a report on Sunday, September 4th. Needham & Company LLC upped their target price on Itron from $46.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 2nd. TheStreet raised Itron from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Zacks Investment Research raised Itron from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, June 28th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $50.00 target price (up from $45.00) on shares of Itron in a report on Sunday, September 4th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.75.
Itron (NASDAQ:ITRI) opened at 56.23 on Monday. Itron has a 1-year low of $29.02 and a 1-year high of $56.86. The firm’s 50-day moving average price is $52.21 and its 200-day moving average price is $45.03. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 42.03 and a beta of 1.43.
Itron (NASDAQ:ITRI) last released its earnings results on Thursday, September 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.22. The company earned $513.02 million during the quarter. Itron had a return on equity of 10.94% and a net margin of 2.62%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) earnings per share. Equities research analysts forecast that Itron will post $2.37 EPS for the current fiscal year.
In related news, Director Thomas S. Glanville sold 4,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $53.15, for a total value of $212,600.00. Following the sale, the director now owns 20,783 shares in the company, valued at $1,104,616.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Scopia Capital Management Lp acquired 83,303 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was acquired at an average price of $53.84 per share, for a total transaction of $4,485,033.52. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. PineBridge Investments L.P. increased its stake in shares of Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock worth $207,000 after buying an additional 175 shares during the period. Arizona State Retirement System increased its stake in shares of Itron by 1.0% in the second quarter. Arizona State Retirement System now owns 19,634 shares of the company’s stock worth $846,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. increased its stake in shares of Itron by 2.2% in the second quarter. Capstone Asset Management Co. now owns 11,586 shares of the company’s stock worth $499,000 after buying an additional 250 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Itron by 8.1% in the second quarter. Teacher Retirement System of Texas now owns 5,048 shares of the company’s stock worth $218,000 after buying an additional 377 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Itron by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,388 shares of the company’s stock worth $1,353,000 after buying an additional 378 shares during the period. Institutional investors own 96.92% 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. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
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