Itron (NASDAQ:ITRI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.
ITRI has been the topic of a number of other reports. Macquarie assumed coverage on shares of Itron in a research note on Thursday, March 22nd. They issued a “neutral” rating on the stock. Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $84.00 target price on shares of Itron in a research note on Wednesday, April 4th. Cowen raised shares of Itron from a “market perform” rating to an “outperform” rating and raised their target price for the company from $80.00 to $84.00 in a research note on Thursday, March 1st. Finally, TheStreet downgraded shares of Itron from a “b” rating to a “c” rating in a research note on Monday, May 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $83.36.
Itron opened at $57.90 on Friday, Marketbeat reports. The company has a market capitalization of $2.30 billion, a PE ratio of 18.92, a PEG ratio of 0.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.46 and a quick ratio of 1.13. Itron has a 12 month low of $56.70 and a 12 month high of $79.95.
In other Itron news, insider Philip Mezey sold 16,694 shares of Itron stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $65.15, for a total transaction of $1,087,614.10. Following the transaction, the insider now directly owns 93,341 shares of the company’s stock, valued at $6,081,166.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Scopia Capital Management Lp purchased 128,620 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were acquired at an average cost of $59.66 per share, for a total transaction of $7,673,469.20. The disclosure for this purchase can be found here. Company insiders own 2.32% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Adviser Investments LLC bought a new position in shares of Itron in the first quarter worth approximately $139,000. Delpha Capital Management LLC bought a new position in shares of Itron in the fourth quarter worth approximately $134,000. Domini Impact Investments LLC bought a new position in shares of Itron in the first quarter worth approximately $223,000. Xact Kapitalforvaltning AB bought a new position in shares of Itron in the fourth quarter worth approximately $214,000. Finally, Bayesian Capital Management LP bought a new position in shares of Itron in the first quarter worth approximately $246,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.
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