Itron, Inc. (NASDAQ:ITRI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Itron, Inc. (NASDAQ:ITRI) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $117.20.

ITRI has been the topic of a number of research reports. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. Roth Mkm reissued a “buy” rating and issued a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Robert W. Baird lifted their price target on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price objective on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, July 11th.

Itron Price Performance

Itron stock opened at $101.61 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 3.16. Itron has a one year low of $56.11 and a one year high of $113.07. The company has a market cap of $4.66 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. The business has a fifty day moving average of $100.39 and a two-hundred day moving average of $97.32.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $609.07 million during the quarter, compared to analysts’ expectations of $599.25 million. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts predict that Itron will post 4.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock valued at $584,721 in the last ninety days. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several large investors have recently added to or reduced their stakes in ITRI. GAMMA Investing LLC acquired a new stake in shares of Itron in the fourth quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its holdings in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares during the period. Quarry LP lifted its position in shares of Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Itron in the fourth quarter valued at $50,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.