Itron (NASDAQ:ITRI) Upgraded at Argus

Itron (NASDAQ:ITRI) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued on Friday, The Fly reports.

Several other analysts have also recently issued reports on the company. Oppenheimer upped their target price on Itron from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. BidaskClub cut Itron from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, May 13th. Stephens started coverage on Itron in a report on Monday, July 8th. They set an “equal weight” rating and a $64.00 price target for the company. Finally, ValuEngine upgraded Itron from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $68.70.

Shares of NASDAQ:ITRI opened at $67.54 on Friday. 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 business has a fifty day moving average of $62.73 and a two-hundred day moving average of $56.70. The stock has a market cap of $2.68 billion, a P/E ratio of 25.49, a PEG ratio of 0.94 and a beta of 1.20. Itron has a 52-week low of $44.35 and a 52-week high of $69.09.

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, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The company had revenue of $635.04 million during the quarter, compared to analysts’ expectations of $598.59 million. Itron had a return on equity of 19.51% and a net margin of 2.52%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, equities analysts anticipate that Itron will post 2.91 earnings per share for the current year.

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

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in Itron by 148.1% during the fourth quarter. Bank of America Corp DE now owns 50,984 shares of the scientific and technical instruments company’s stock valued at $2,410,000 after purchasing an additional 30,436 shares in the last quarter. Norges Bank acquired a new stake in Itron during the fourth quarter worth about $18,557,000. Geode Capital Management LLC increased its position in Itron by 9.5% during the fourth quarter. Geode Capital Management LLC now owns 390,825 shares of the scientific and technical instruments company’s stock worth $18,482,000 after purchasing an additional 33,782 shares during the last quarter. Foundry Partners LLC increased its position in Itron by 9.0% during the first quarter. Foundry Partners LLC now owns 245,468 shares of the scientific and technical instruments company’s stock worth $11,451,000 after purchasing an additional 20,219 shares during the last quarter. Finally, Investec Asset Management LTD increased its position in Itron by 2.4% during the first quarter. Investec Asset Management LTD now owns 50,653 shares of the scientific and technical instruments company’s stock worth $2,363,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors own 97.55% 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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