Itron (ITRI) Rating Lowered to Strong Sell at BidaskClub

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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.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $607.00 million for the quarter, compared to the consensus estimate of $575.74 million. Itron had a negative net margin of 4.85% and a positive return on equity of 13.59%. Itron’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. equities research analysts predict that Itron will post 3.02 EPS for the current year.

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.

About Itron

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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