Itron (NASDAQ:ITRI) Sets New 1-Year Low at $43.82 – Defense World

Itron, Inc. (NASDAQ:ITRI – Get Rating) hit a new 52-week low on Thursday . The company traded as low as $43.82 and last traded at $43.82, with a volume of 9547 shares traded. The stock had previously closed at $47.07.

ITRI has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Itron in a report on Thursday, May 12th. They issued a “neutral” rating and a $51.00 price objective for the company. Morgan Stanley cut their target price on shares of Itron from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, June 9th. Stephens cut their target price on shares of Itron from $90.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. TheStreet downgraded shares of Itron from a “c-” rating to a “d+” rating in a research report on Wednesday, March 9th. Finally, StockNews.com raised shares of Itron from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Itron presently has a consensus rating of “Buy” and a consensus price target of $73.70.

The business’s 50 day moving average price is $49.64 and its 200-day moving average price is $55.21. The firm has a market capitalization of $1.98 billion, a PE ratio of -21.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.24 and a current ratio of 1.58.

Itron (NASDAQ:ITRI – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $475.30 million for the quarter, compared to the consensus estimate of $488.49 million. Itron had a negative net margin of 4.80% and a positive return on equity of 5.19%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, analysts anticipate that Itron, Inc. will post 1.28 earnings per share for the current year.

In other news, CFO Joan S. Hooper sold 627 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total value of $30,948.72. Following the sale, the chief financial officer now directly owns 50,409 shares of the company’s stock, valued at approximately $2,488,188.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new position in shares of Itron in the first quarter valued at approximately $36,000. US Bancorp DE grew its holdings in shares of Itron by 30.7% in the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Itron by 29.1% in the first quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company’s stock valued at $72,000 after purchasing an additional 310 shares in the last quarter. Captrust Financial Advisors grew its holdings in Itron by 314.3% during the 1st quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company’s stock worth $90,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Itron by 17.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,409 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

About Itron (NASDAQ:ITRI)

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space 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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Source: defenseworld.net