Guggenheim initiated coverage on shares of Itron (NASDAQ:ITRI – Free Report) in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm issued a neutral rating on the scientific and technical instruments company’s stock.
Several other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of Itron from a buy rating to a strong-buy rating in a research report on Tuesday, August 29th. Argus upgraded Itron from a hold rating to a buy rating and set a $82.00 target price for the company in a report on Friday, August 18th. Robert W. Baird upped their price objective on shares of Itron from $63.00 to $75.00 and gave the stock a neutral rating in a research note on Friday, August 4th. Raymond James cut shares of Itron from a strong-buy rating to an outperform rating and upped their price target for the stock from $70.00 to $81.00 in a research report on Wednesday, July 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Itron from $54.00 to $64.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Itron currently has a consensus rating of Hold and a consensus target price of $68.70.
Itron Stock Up 0.6 %
Itron (NASDAQ:ITRI – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.34. Itron had a return on equity of 8.02% and a net margin of 2.01%. The firm had revenue of $541.07 million for the quarter, compared to the consensus estimate of $518.01 million. Research analysts anticipate that Itron will post 2.16 earnings per share for the current year.
In related news, SVP Donald L. Reeves III sold 983 shares of Itron stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $78.00, for a total value of $76,674.00. Following the completion of the sale, the senior vice president now directly owns 9,091 shares in the company, valued at approximately $709,098. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.47% of the company’s stock.
Institutional Trading of Itron
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Itron in the fourth quarter worth about $29,000. Quarry LP raised its holdings in shares of Itron by 240.5% during the second quarter. Quarry LP now owns 429 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 303 shares during the last quarter. Strs Ohio lifted its position in Itron by 100.0% during the first quarter. Strs Ohio now owns 600 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Van ECK Associates Corp raised its stake in shares of Itron by 74.1% during the 4th quarter. Van ECK Associates Corp now owns 712 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 303 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Itron by 30.7% during 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 buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 95.12% of the company’s stock.
Itron Company Profile
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. It 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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