Itron (NASDAQ:ITRI) Cut to Buy at BidaskClub

BidaskClub downgraded shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a research report released on Saturday, BidAskClub reports.

A number of other analysts have also recently issued reports on the stock. Robert W. Baird raised their target price on shares of Itron from $80.00 to $86.00 and gave the stock an outperform rating in a research note on Tuesday, November 5th. Argus upgraded shares of Itron from a hold rating to a buy rating in a research note on Friday, August 16th. Raymond James raised their target price on shares of Itron from $75.00 to $82.00 and gave the stock an outperform rating in a research note on Tuesday, October 1st. TheStreet upgraded shares of Itron from a c+ rating to a b- rating in a research note on Friday, August 16th. Finally, Credit Suisse Group cut shares of Itron to an outperform rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Itron has an average rating of Buy and a consensus target price of $77.18.

Shares of ITRI stock traded down $0.41 during trading hours on Friday, hitting $78.57. 172,600 shares of the company were exchanged, compared to its average volume of 308,432. The company has a market capitalization of $3.17 billion, a PE ratio of 29.65, a PEG ratio of 1.06 and a beta of 1.09. The company has a current ratio of 1.41, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $75.61 and a two-hundred day moving average of $65.53. Itron has a 52 week low of $44.35 and a 52 week high of $81.29.

Itron (NASDAQ:ITRI) last posted its earnings results on Monday, November 4th. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.38. The company had revenue of $624.47 million during the quarter, compared to analysts’ expectations of $622.63 million. Itron had a net margin of 2.37% and a return on equity of 18.69%. Itron’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. On average, research analysts forecast that Itron will post 3.09 EPS for the current year.

In related news, SVP Sarah E. Hlavinka sold 3,195 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.33, for a total transaction of $234,289.35. Following the transaction, the senior vice president now directly owns 13,929 shares of the company’s stock, valued at $1,021,413.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas S. Glanville sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $75.10, for a total transaction of $75,100.00. Following the transaction, the director now directly owns 11,056 shares in the company, valued at $830,305.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,667 shares of company stock valued at $5,385,885. 2.35% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ITRI. FMR LLC increased its position in Itron by 3.1% during the first quarter. FMR LLC now owns 253,752 shares of the scientific and technical instruments company’s stock worth $11,837,000 after acquiring an additional 7,614 shares during the period. Oregon Public Employees Retirement Fund increased its position in Itron by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,175 shares of the scientific and technical instruments company’s stock worth $824,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc increased its position in Itron by 145.4% during the second quarter. Versant Capital Management Inc now owns 697 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 413 shares during the period. AE Wealth Management LLC bought a new position in Itron during the second quarter worth about $492,000. Finally, Strs Ohio bought a new position in Itron during the second quarter worth about $37,000. 93.77% of the stock is currently owned by institutional investors and hedge funds.

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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