Itron (NASDAQ:ITRI) Upgraded at BidaskClub

BidaskClub upgraded shares of Itron (NASDAQ:ITRI) from a buy rating to a strong-buy rating in a research note released on Saturday morning, BidAskClub reports.

Several other brokerages have also recently issued reports on ITRI. Argus upgraded shares of Itron from a hold rating to a buy rating in a report on Friday, August 16th. ValuEngine cut shares of Itron from a buy rating to a hold rating in a report on Wednesday, October 2nd. TheStreet upgraded shares of Itron from a c+ rating to a b- rating in a report on Friday, August 16th. Raymond James raised their target price on shares of Itron from $75.00 to $82.00 and gave the stock an outperform rating in a report on Tuesday, October 1st. Finally, Credit Suisse Group cut shares of Itron to an outperform rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $74.64.

NASDAQ:ITRI opened at $77.77 on Friday. The company’s 50 day moving average price is $74.01 and its 200-day moving average price is $63.08. Itron has a 52 week low of $44.35 and a 52 week high of $78.87. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 1.39. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.06 and a beta of 1.08.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. Itron had a net margin of 2.52% and a return on equity of 19.51%. The company had revenue of $635.04 million for the quarter, compared to analysts’ expectations of $598.59 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Itron will post 2.9 earnings per share for the current year.

In other news, Director Thomas S. Glanville sold 3,000 shares of Itron stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $66.38, for a total transaction of $199,140.00. Following the transaction, the director now owns 13,007 shares in the company, valued at approximately $863,404.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas S. Glanville sold 1,000 shares of Itron stock in a transaction on Monday, September 30th. The stock was sold at an average price of $74.25, for a total transaction of $74,250.00. Following the transaction, the director now owns 11,707 shares in the company, valued at approximately $869,244.75. The disclosure for this sale can be found here. Insiders have sold a total of 77,667 shares of company stock worth $5,585,025 in the last quarter. Corporate insiders own 2.35% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Itron during the 2nd quarter worth $37,000. NumerixS Investment Technologies Inc boosted its stake in shares of Itron by 50.0% during the 2nd 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 last quarter. Versant Capital Management Inc boosted its stake in shares of Itron by 145.4% during the 2nd 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 last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Itron during the 2nd quarter worth $73,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Itron by 2,199.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,460 shares of the scientific and technical instruments company’s stock worth $154,000 after acquiring an additional 2,353 shares during the last quarter. Institutional investors and hedge funds own 94.35% 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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