Itron (NASDAQ:ITRI) Upgraded by BidaskClub to Buy

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BidaskClub upgraded shares of Itron (NASDAQ:ITRI) from a hold rating to a buy rating in a report published on Friday morning, BidAskClub reports.

Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Itron from a hold rating to a buy rating and set a $67.00 price objective on the stock in a research report on Monday, May 13th. Citigroup lifted their price objective on shares of Itron from $68.00 to $75.00 and gave the company an outperform rating in a research report on Monday, July 1st. Stephens started coverage on shares of Itron in a research report on Monday, July 8th. They issued an equal weight rating and a $64.00 price objective on the stock. Oppenheimer lifted their price objective on shares of Itron from $60.00 to $68.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, ValuEngine upgraded shares of Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Itron has a consensus rating of Buy and a consensus price target of $68.70.

NASDAQ ITRI opened at $57.96 on Friday. Itron has a one year low of $44.35 and a one year high of $66.95. The firm has a 50-day simple moving average of $61.49. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.40 and a quick ratio of 1.07. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.91 and a beta of 1.20.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The business had revenue of $635.04 million during the quarter, compared to analyst estimates of $598.59 million. Itron had a net margin of 1.87% and a return on equity of 17.97%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. Equities research analysts expect that Itron will post 2.63 earnings per share for the current year.

In other Itron news, insider Philip Mezey sold 31,414 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $62.98, for a total transaction of $1,978,453.72. Following the sale, the insider now directly owns 74,624 shares in the company, valued at approximately $4,699,819.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Scopia Capital Management Lp sold 17,272 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $57.31, for a total transaction of $989,858.32. The disclosure for this sale can be found here. Insiders have sold a total of 135,593 shares of company stock worth $7,960,442 over the last 90 days. 2.35% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ITRI. Strs Ohio bought a new stake in shares of Itron during the 2nd quarter worth about $37,000. Versant Capital Management Inc raised its holdings in shares of Itron by 145.4% in the 2nd quarter. Versant Capital Management Inc now owns 697 shares of the scientific and technical instruments company’s stock worth $43,000 after purchasing an additional 413 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Itron by 47.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,381 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 446 shares in the last quarter. Smithfield Trust Co. raised its holdings in shares of Itron by 2,120.0% in the 1st quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 1,378 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Itron in the 2nd quarter worth approximately $73,000. Institutional investors own 97.33% of the company’s stock.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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