Itron, Inc. (NASDAQ:ITRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Itron’s sales guidance range of 2017 depicts a year over year growth of 1.6% at the midpoint, reflecting sound business performance and the addition of distributed energy management solutions to its platform. The company continues to focus on expanding portfolio of outcome-based solutions, utilizing the power of the OpenWay Riva platform. Its restructuring projects will help in reducing costs and boost manufacturing flexibility. Moreover, the Comverge buyout, strong bookings and backlog, and new projects will drive growth. Itron's estimates have been undergoing positive revisions lately. The company has a positive record of earnings surprises in recent quarters. However, Itron‘s liquidity could be affected by the stability of electricity, gas, and water industries and competitive pressures. Elevated expenses and fluctuation in currency rates may mar income in the near term. The stock underperformed the industry over the past year.”
A number of other equities analysts also recently issued reports on ITRI. Argus increased their price objective on Itron from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. BidaskClub upgraded Itron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $78.00 price objective (up previously from $75.00) on shares of Itron in a report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective (up previously from $74.00) on shares of Itron in a report on Thursday, August 3rd. Finally, Cowen and Company set a $74.00 price objective on Itron and gave the stock a “hold” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $80.11.
Itron (ITRI) traded down 1.38% during mid-day trading on Tuesday, hitting $71.35. 78,010 shares of the stock traded hands. The company has a 50-day moving average of $72.34 and a 200 day moving average of $66.96. The firm has a market capitalization of $2.76 billion, a P/E ratio of 88.30 and a beta of 1.08. Itron has a 1-year low of $51.55 and a 1-year high of $75.60.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $503.10 million during the quarter, compared to the consensus estimate of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that Itron will post $3.07 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew 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 worth $109,000 after acquiring an additional 31 shares during the last quarter. LS Investment Advisors LLC grew 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 worth $115,000 after acquiring an additional 681 shares during the last quarter. Pacad Investment Ltd. grew 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 worth $115,000 after acquiring an additional 300 shares during the last quarter. Riverhead Capital Management LLC grew 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 worth $142,000 after acquiring an additional 897 shares during the last quarter. Finally, SG Americas Securities LLC grew 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 worth $144,000 after acquiring an additional 36 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
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. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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