Macquarie assumed coverage on shares of Itron (NASDAQ:ITRI) in a research report report published on Thursday morning, MarketBeat reports. The firm issued a neutral rating on the scientific and technical instruments company’s stock.
ITRI has been the subject of a number of other reports. BidaskClub downgraded Itron from a buy rating to a hold rating in a research report on Friday, December 22nd. Argus cut Itron from a buy rating to a hold rating in a report on Wednesday, November 29th. UBS began coverage on Itron in a report on Tuesday, January 2nd. They set a strong-buy rating and a $84.00 price target for the company. Cowen raised Itron from a market perform rating to an outperform rating and boosted their price target for the stock from $80.00 to $84.00 in a report on Thursday, March 1st. Finally, Canaccord Genuity reissued a hold rating and set a $78.00 price target on shares of Itron in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $84.18.
Shares of Itron stock opened at $70.18 on Thursday. The firm has a market capitalization of $2,721.67, a price-to-earnings ratio of 22.93, a PEG ratio of 1.09 and a beta of 1.03. The company has a current ratio of 1.67, a quick ratio of 1.29 and a debt-to-equity ratio of 0.74. Itron has a 1 year low of $59.10 and a 1 year high of $79.95.
In other Itron news, VP Shannon M. Votava sold 6,661 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $71.58, for a total value of $476,794.38. Following the completion of the transaction, the vice president now owns 16,459 shares of the company’s stock, valued at approximately $1,178,135.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas S. Glanville sold 2,000 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $74.02, for a total value of $148,040.00. Following the completion of the transaction, the director now directly owns 13,390 shares of the company’s stock, valued at approximately $991,127.80. The disclosure for this sale can be found here. In the last three months, insiders have bought 78,750 shares of company stock valued at $5,368,520 and have sold 16,708 shares valued at $1,187,652. 2.03% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ITRI. Royal Bank of Canada increased its holdings in Itron by 10.9% in 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 purchasing an additional 299 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Itron by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 53,652 shares of the scientific and technical instruments company’s stock worth $4,155,000 after purchasing an additional 939 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Itron by 45.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,806 shares of the scientific and technical instruments company’s stock worth $2,076,000 after purchasing an additional 8,317 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Itron in the 3rd quarter worth about $357,000. Finally, Rhumbline Advisers increased its holdings in Itron by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 67,237 shares of the scientific and technical instruments company’s stock worth $5,208,000 after purchasing an additional 2,176 shares in the last quarter. 95.25% of the stock is owned by institutional investors and hedge funds.
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Itron Company Profile
Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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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