Itron (NASDAQ:ITRI) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Itron (NASDAQ:ITRI) from a strong-buy rating to an outperform rating in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have $75.00 price target on the scientific and technical instruments company’s stock.

ITRI has been the subject of several other research reports. Robert W. Baird raised Itron from a neutral rating to an outperform rating and boosted their price objective for the company from $56.00 to $62.00 in a report on Tuesday, May 7th. ValuEngine raised Itron from a sell rating to a hold rating in a report on Wednesday, May 8th. Oppenheimer boosted their price objective on Itron from $60.00 to $68.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Citigroup boosted their price objective on Itron from $68.00 to $75.00 and gave the company an outperform rating in a report on Monday, July 1st. Finally, Argus raised Itron from a hold rating to a buy rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $69.00.

Shares of ITRI opened at $67.09 on Tuesday. The stock has a 50-day moving average of $63.78 and a two-hundred day moving average of $57.23. Itron has a one year low of $44.35 and a one year high of $71.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.44. The stock has a market cap of $2.71 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.94 and a beta of 1.20.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, topping the Zacks’ 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 revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Analysts predict that Itron will post 2.91 EPS for the current fiscal year.

In related news, Director Thomas S. Glanville sold 3,000 shares of Itron stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $66.38, for a total value of $199,140.00. Following the completion of the transaction, the director now owns 13,007 shares in the company, valued at approximately $863,404.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Scopia Capital Management Lp sold 31,144 shares of Itron stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $57.34, for a total value of $1,785,796.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,894 shares of company stock valued at $3,984,263. 2.35% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Itron in the 2nd quarter valued at about $37,000. NumerixS Investment Technologies Inc increased its stake in shares of Itron by 50.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 600 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc increased its stake 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 valued at $43,000 after purchasing an additional 413 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Itron in the 2nd quarter valued at about $73,000. Finally, Oppenheimer Asset Management Inc. increased its stake 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 valued at $64,000 after purchasing an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 97.85% 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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