Itron’s (ITRI) “Outperform” Rating Reaffirmed at Robert W. Baird

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Robert W. Baird reaffirmed their outperform rating on shares of Itron (NASDAQ:ITRI) in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a $80.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $70.00.

Several other equities research analysts have also weighed in on ITRI. Credit Suisse Group lowered shares of Itron to an outperform rating in a report on Tuesday, August 20th. Raymond James lowered shares of Itron from a strong-buy rating to an outperform rating and set a $75.00 target price on the stock. in a report on Tuesday, August 20th. BidaskClub raised shares of Itron from a hold rating to a buy rating in a report on Wednesday, September 4th. TheStreet raised shares of Itron from a c+ rating to a b- rating in a report on Friday, August 16th. Finally, ValuEngine raised shares of Itron from a hold rating to a buy rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $70.80.

ITRI opened at $76.84 on Wednesday. The firm’s 50-day simple moving average is $69.08 and its 200-day simple moving average is $58.96. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.09 and a current ratio of 1.44. Itron has a twelve month low of $44.35 and a twelve month high of $77.80. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.06 and a beta of 1.09.

Itron (NASDAQ:ITRI) last posted its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. Itron had a net margin of 2.52% and a return on equity of 19.51%. The business had revenue of $635.04 million for the quarter, compared to analyst estimates of $598.59 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Itron will post 2.9 EPS for the current fiscal year.

In other Itron news, Director Thomas S. Glanville sold 3,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $66.38, for a total transaction of $199,140.00. Following the sale, the director now owns 13,007 shares of the company’s stock, valued at approximately $863,404.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lynda L. Ziegler sold 3,369 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.48, for a total transaction of $247,554.12. Following the sale, the insider now directly owns 11,238 shares in the company, valued at approximately $825,768.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,661 shares of company stock worth $5,126,439. Insiders own 2.35% of the company’s stock.

A number of large investors have recently modified their holdings of ITRI. Strs Ohio bought a new stake in Itron during the 2nd quarter worth about $37,000. NumerixS Investment Technologies Inc grew its holdings in Itron by 50.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 600 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc grew its holdings in Itron by 145.4% during the 2nd 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 last quarter. Steward Partners Investment Advisory LLC bought a new stake in Itron during the 2nd quarter worth about $73,000. Finally, ETF Managers Group LLC grew its holdings in Itron by 10.0% during the 1st quarter. ETF Managers Group LLC now owns 2,000 shares of the scientific and technical instruments company’s stock worth $93,000 after acquiring an additional 182 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

About Itron

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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