Itron (ITRI) Downgraded by Argus to “Hold”

Itron (NASDAQ:ITRI) was downgraded by stock analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

Several other equities analysts also recently issued reports on the company. JMP Securities set a $80.00 price objective on Itron and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded Itron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. ValuEngine downgraded Itron from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. BidaskClub downgraded Itron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 25th. Finally, Guggenheim set a $73.00 target price on Itron and gave the stock a “buy” rating in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Itron has a consensus rating of “Hold” and an average price target of $77.00.

Shares of ITRI opened at $55.20 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.41. Itron has a 52-week low of $49.59 and a 52-week high of $77.40. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.24. Itron had a positive return on equity of 15.20% and a negative net margin of 5.19%. The firm had revenue of $595.96 million during the quarter, compared to the consensus estimate of $604.98 million. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts forecast that Itron will post 2.53 earnings per share for the current year.

In other news, insider Philip Mezey sold 16,694 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $65.04, for a total transaction of $1,085,777.76. Following the completion of the sale, the insider now owns 93,341 shares in the company, valued at $6,070,898.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in Itron by 137.1% in the third quarter. SG Americas Securities LLC now owns 46,079 shares of the scientific and technical instruments company’s stock valued at $2,958,000 after purchasing an additional 26,643 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Itron by 19.0% in the third quarter. Rockefeller Capital Management L.P. now owns 17,324 shares of the scientific and technical instruments company’s stock valued at $1,112,000 after purchasing an additional 2,761 shares during the last quarter. US Bancorp DE increased its holdings in Itron by 135.6% in the third quarter. US Bancorp DE now owns 18,870 shares of the scientific and technical instruments company’s stock valued at $1,211,000 after purchasing an additional 10,860 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its holdings in Itron by 15.3% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 40,895 shares of the scientific and technical instruments company’s stock valued at $2,625,000 after purchasing an additional 5,427 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Itron by 2.5% in the third quarter. Frontier Capital Management Co. LLC now owns 803,949 shares of the scientific and technical instruments company’s stock valued at $51,614,000 after purchasing an additional 19,962 shares during the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.

About Itron

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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