Itron (NASDAQ:ITRI) Given Outperform Rating at Robert W. Baird

Robert W. Baird reissued their outperform rating on shares of Itron (NASDAQ:ITRI) in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have a $80.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $70.00.

Several other research analysts also recently weighed in on ITRI. BidaskClub raised Itron from a hold rating to a buy rating in a research note on Wednesday, September 4th. Raymond James downgraded Itron from a strong-buy rating to an outperform rating and set a $75.00 target price for the company. in a research note on Tuesday, August 20th. Argus raised Itron from a hold rating to a buy rating in a research note on Friday, August 16th. Stephens initiated coverage on Itron in a research note on Monday, July 8th. They set an equal weight rating and a $64.00 target price for the company. Finally, TheStreet raised Itron from a c+ rating to a b- rating in a research note on Friday, August 16th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $70.80.

Shares of ITRI stock opened at $76.84 on Wednesday. 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 company has a market cap of $3.02 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.05 and a beta of 1.09. The stock has a 50 day simple moving average of $69.08 and a 200-day simple moving average of $58.96. Itron has a 1-year low of $44.35 and a 1-year high of $77.80.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. The business had revenue of $635.04 million during 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. Analysts anticipate that Itron will post 2.9 earnings per share for the current fiscal year.

In related news, SVP Michel Cadieux sold 34,683 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $71.13, for a total value of $2,467,001.79. Following the completion of the transaction, the senior vice president now directly owns 49,702 shares of the company’s stock, valued at approximately $3,535,303.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip Mezey sold 31,414 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $62.98, for a total value of $1,978,453.72. Following the completion of the transaction, the insider now directly owns 74,624 shares of the company’s stock, valued at $4,699,819.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,661 shares of company stock valued at $5,126,439. 2.35% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Itron in the 2nd quarter valued at $37,000. NumerixS Investment Technologies Inc raised its stake in 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 during the last quarter. Versant Capital Management Inc raised its stake in 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 during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Itron in the 2nd quarter valued at $73,000. Finally, ETF Managers Group LLC raised its stake in Itron by 10.0% in the 1st quarter. ETF Managers Group LLC now owns 2,000 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 182 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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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