Itron (ITRI) Coverage Initiated at Macquarie

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.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $550.78 million during the quarter, compared to the consensus estimate of $532.61 million. Itron had a return on equity of 15.84% and a net margin of 2.84%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. sell-side analysts anticipate that Itron will post 3.05 earnings per share for the current year.

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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