Itron, Inc. (NASDAQ:ITRI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Itron, Inc. (NASDAQ:ITRIGet Rating) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $67.67.

A number of brokerages recently weighed in on ITRI. Morgan Stanley lowered their target price on shares of Itron from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, June 9th. Piper Sandler lowered their target price on shares of Itron from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Raymond James reduced their price objective on shares of Itron from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of Itron from $71.00 to $73.00 in a research report on Wednesday, July 20th. Finally, StockNews.com raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th.

Itron Price Performance

NASDAQ ITRI opened at $58.62 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.58 and a debt-to-equity ratio of 0.38. Itron has a 12-month low of $43.18 and a 12-month high of $98.25. The company has a market capitalization of $2.64 billion, a PE ratio of -28.60 and a beta of 1.24. The firm’s 50 day moving average is $50.35 and its 200-day moving average is $51.64.

Itron (NASDAQ:ITRIGet Rating) last issued its earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $475.30 million for the quarter, compared to the consensus estimate of $488.49 million. Itron had a negative net margin of 4.80% and a positive return on equity of 5.19%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. Equities research analysts anticipate that Itron will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Joan S. Hooper sold 627 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total value of $30,948.72. Following the completion of the sale, the chief financial officer now owns 50,409 shares of the company’s stock, valued at $2,488,188.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,015 shares of company stock valued at $48,923. 1.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Itron

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in Itron by 4.3% during the second quarter. Envestnet Asset Management Inc. now owns 15,758 shares of the scientific and technical instruments company’s stock worth $779,000 after purchasing an additional 644 shares during the period. Nisa Investment Advisors LLC lifted its position in Itron by 122.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 600 shares during the period. EverSource Wealth Advisors LLC lifted its position in Itron by 105.3% during the second quarter. EverSource Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 358 shares during the period. Victory Capital Management Inc. lifted its position in Itron by 2.9% during the second quarter. Victory Capital Management Inc. now owns 9,845 shares of the scientific and technical instruments company’s stock worth $487,000 after purchasing an additional 279 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Itron by 4.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 114,262 shares of the scientific and technical instruments company’s stock worth $5,648,000 after acquiring an additional 4,434 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.

About Itron

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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space 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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