Shares of Itron, Inc. (NASDAQ:ITRI) have received a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $98.40.
A number of equities analysts have weighed in on the stock. Oppenheimer decreased their price objective on shares of Itron from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, May 4th. JPMorgan Chase & Co. increased their price target on shares of Itron from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 21st. Raymond James raised shares of Itron from an “outperform” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a research report on Friday, August 6th. Piper Sandler reduced their price target on shares of Itron from $103.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, August 6th. Finally, Robert W. Baird cut shares of Itron from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $100.00 to $75.00 in a research report on Friday, August 6th.
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In other Itron news, SVP John F. Marcolini sold 342 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $98.19, for a total value of $33,580.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sarah E. Hlavinka sold 2,304 shares of the firm’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $96.16, for a total transaction of $221,552.64. Following the completion of the sale, the senior vice president now owns 20,546 shares in the company, valued at approximately $1,975,703.36. The disclosure for this sale can be found here. Insiders sold 5,371 shares of company stock worth $522,747 in the last three months. 1.25% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in shares of Itron by 121.1% during the second quarter. Wells Fargo & Company MN now owns 106,116 shares of the scientific and technical instruments company’s stock valued at $10,609,000 after acquiring an additional 58,111 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Itron by 3.3% during the second quarter. Brookfield Asset Management Inc. now owns 104,951 shares of the scientific and technical instruments company’s stock valued at $10,493,000 after acquiring an additional 3,400 shares during the period. Invesco Ltd. increased its stake in shares of Itron by 22.1% during the second quarter. Invesco Ltd. now owns 1,354,635 shares of the scientific and technical instruments company’s stock valued at $135,437,000 after acquiring an additional 244,834 shares during the period. Metropolitan Life Insurance Co NY increased its stake in shares of Itron by 104,700.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 12,576 shares of the scientific and technical instruments company’s stock valued at $1,257,000 after acquiring an additional 12,564 shares during the period. Finally, Man Group plc increased its stake in shares of Itron by 23.8% during the second quarter. Man Group plc now owns 25,727 shares of the scientific and technical instruments company’s stock valued at $2,572,000 after acquiring an additional 4,947 shares during the period. Institutional investors and hedge funds own 90.99% of the company’s stock.
NASDAQ:ITRI opened at $77.57 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $93.23. The stock has a market cap of $3.51 billion, a PE ratio of -146.36, a P/E/G ratio of 5.11 and a beta of 1.16. Itron has a 1-year low of $53.49 and a 1-year high of $122.31.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, August 5th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.20). The firm had revenue of $489.41 million during the quarter, compared to analysts’ expectations of $531.53 million. Itron had a negative net margin of 1.17% and a positive return on equity of 8.43%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, analysts predict that Itron will post 1.31 earnings per share for the current year.
Itron Company Profile
Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.
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