Itron (NASDAQ:ITRI) Lifted to Buy at Argus

Argus upgraded shares of Itron (NASDAQ:ITRI) from a hold rating to a buy rating in a research report released on Friday morning, BenzingaRatingsTable reports.

Several other research firms also recently weighed in on ITRI. Oppenheimer boosted their target price on Itron from $60.00 to $68.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Zacks Investment Research raised Itron from a hold rating to a buy rating and set a $67.00 target price on the stock in a research report on Monday, May 13th. BidaskClub downgraded Itron from a buy rating to a hold rating in a research report on Saturday, August 10th. ValuEngine raised Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Finally, Stephens initiated coverage on Itron in a research report on Monday, July 8th. They issued an equal weight rating and a $64.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $68.70.

Shares of ITRI opened at $69.70 on Friday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.44 and a quick ratio of 1.09. The business’s 50 day simple moving average is $62.88 and its 200-day simple moving average is $56.76. Itron has a 1 year low of $44.35 and a 1 year high of $69.81.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The firm had revenue of $635.04 million for the quarter, compared to the consensus estimate of $598.59 million. Itron had a return on equity of 19.51% and a net margin of 2.52%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. On average, sell-side analysts expect that Itron will post 2.91 earnings per share for the current year.

In related news, major shareholder Scopia Capital Management Lp sold 55,086 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $57.45, for a total transaction of $3,164,690.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas S. Glanville sold 3,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $66.38, for a total value of $199,140.00. Following the sale, the director now owns 13,007 shares of the company’s stock, valued at $863,404.66. The disclosure for this sale can be found here. Insiders sold a total of 138,252 shares of company stock valued at $8,138,812 over the last quarter. Company insiders own 2.35% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in Itron during the second quarter worth about $37,000. NumerixS Investment Technologies Inc grew its holdings in Itron by 50.0% during the second quarter. NumerixS Investment Technologies Inc now owns 600 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc grew its holdings in Itron by 145.4% during the second quarter. Versant Capital Management Inc now owns 697 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 413 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Itron by 47.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,381 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 446 shares during the period. Finally, Smithfield Trust Co. grew its holdings in Itron by 2,120.0% during the first quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 1,378 shares during the period. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Itron Company Profile

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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