Itron, Inc. (NASDAQ:ITRI – Get Rating) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $62.13.
Several research firms recently weighed in on ITRI. Cowen dropped their target price on shares of Itron to $68.00 in a report on Tuesday, August 9th. JPMorgan Chase & Co. downgraded shares of Itron from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Monday, August 8th. Piper Sandler dropped their price target on shares of Itron from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Morgan Stanley dropped their price target on shares of Itron from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Finally, StockNews.com downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Friday, August 5th.
Itron Trading Down 4.5 %
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ITRI opened at $48.88 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 1.26. The company’s 50 day simple moving average is $50.94 and its two-hundred day simple moving average is $50.62. Itron has a 1-year low of $43.18 and a 1-year high of $86.49. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -22.84 and a beta of 1.24.
Itron (NASDAQ:ITRI – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). The firm had revenue of $431.88 million for the quarter, compared to analyst estimates of $488.53 million. Itron had a positive return on equity of 4.45% and a negative net margin of 5.15%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. Analysts expect that Itron will post 0.77 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. EverSource Wealth Advisors LLC lifted its holdings in shares of Itron by 105.3% in the second quarter. EverSource Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 358 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Itron in the first quarter valued at about $36,000. Nisa Investment Advisors LLC lifted its holdings in shares of Itron by 122.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 600 shares in the last quarter. US Bancorp DE raised its stake in Itron by 30.7% during the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 244 shares during the period. Finally, Eagle Bay Advisors LLC raised its stake in Itron by 106.3% during the second quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the scientific and technical instruments company’s stock worth $70,000 after purchasing an additional 725 shares during the period. 99.15% 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 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.
Further Reading
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Source: marketbeat.com
