Itron (NASDAQ:ITRI – Get Rating) had its target price decreased by stock analysts at Raymond James from $72.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the scientific and technical instruments company’s stock. Raymond James’ price target would indicate a potential upside of 47.22% from the stock’s previous close.
ITRI has been the topic of a number of other research reports. Piper Sandler started coverage on Itron in a report on Thursday, May 12th. They issued a “neutral” rating and a $51.00 price objective on the stock. Morgan Stanley lowered their target price on Itron from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, June 9th. Finally, StockNews.com raised Itron from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.70.
Shares of NASDAQ ITRI traded down $0.01 during midday trading on Tuesday, reaching $46.19. 1,318 shares of the company were exchanged, compared to its average volume of 430,229. The company has a current ratio of 1.58, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38. Itron has a 1 year low of $43.18 and a 1 year high of $99.69. The stock has a fifty day simple moving average of $49.26 and a 200 day simple moving average of $53.07. The stock has a market cap of $2.08 billion, a P/E ratio of -22.72 and a beta of 1.20.
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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, topping analysts’ consensus estimates of $0.09 by $0.02. Itron had a positive return on equity of 5.19% and a negative net margin of 4.80%. The firm had revenue of $475.30 million for the quarter, compared to analyst estimates of $488.49 million. During the same quarter last year, the company posted $0.52 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. As a group, analysts forecast that Itron will post 1.32 earnings per share for the current year.
In other news, CFO Joan S. Hooper sold 627 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 50,409 shares in the company, valued at $2,488,188.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,015 shares of company stock valued at $48,923 over the last 90 days. Insiders own 1.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ITRI. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Itron by 1.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,629 shares of the scientific and technical instruments company’s stock worth $1,413,000 after purchasing an additional 234 shares during the period. US Bancorp DE increased its holdings in shares of Itron by 30.7% in the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 244 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Itron by 4.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,270 shares of the scientific and technical instruments company’s stock worth $361,000 after acquiring an additional 248 shares during the period. Maryland State Retirement & Pension System increased its holdings in shares of Itron by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 18,048 shares of the scientific and technical instruments company’s stock worth $1,237,000 after acquiring an additional 249 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Itron by 3.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,680 shares of the scientific and technical instruments company’s stock worth $404,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.
About Itron (Get Rating)
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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