Itron, Inc. (NASDAQ:ITRI) Receives Consensus Rating of “Hold” from Analysts

Shares of Itron, Inc. (NASDAQ:ITRIGet Rating) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $62.13.

ITRI has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Itron from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Stephens downgraded shares of Itron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $65.00 to $55.00 in a research note on Friday, August 5th. StockNews.com downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Cowen decreased their price target on shares of Itron to $68.00 in a research note on Tuesday, August 9th. Finally, Raymond James decreased their price target on shares of Itron from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 12th.

Itron Stock Down 2.7 %

ITRI stock opened at $45.25 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.26 and a current ratio of 1.64. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -21.14 and a beta of 1.29. The business’s 50 day moving average price is $51.02 and its two-hundred day moving average price is $50.00. Itron has a fifty-two week low of $43.18 and a fifty-two week high of $81.36.

Itron (NASDAQ:ITRIGet Rating) last released its quarterly earnings data on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). The business had revenue of $431.88 million during the quarter, compared to the consensus estimate of $488.53 million. Itron had a negative net margin of 5.15% and a positive return on equity of 4.45%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. As a group, analysts forecast that Itron will post 0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Thomas Deitrich sold 2,605 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $47.66, for a total transaction of $124,154.30. Following the completion of the transaction, the chief executive officer now directly owns 146,997 shares in the company, valued at $7,005,877.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,974 shares of company stock valued at $141,918 over the last ninety days. 1.37% of the stock is currently owned by insiders.

Institutional Trading of Itron

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Itron by 105.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 358 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Itron in the 1st quarter valued at $36,000. Nisa Investment Advisors LLC raised its holdings in shares of Itron by 122.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 600 shares in the last quarter. US Bancorp DE raised its holdings in shares of Itron by 30.7% in the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its position in shares of Itron by 106.3% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the scientific and technical instruments company’s stock valued at $70,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Itron Company Profile

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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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