Shares of Itron Inc. (NASDAQ:ITRI) have been assigned an average rating of “Buy” from the nine research firms that are currently covering the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $56.88.
Several analysts have recently weighed in on the company. Robert W. Baird restated an “outperform” rating and set a $62.00 target price on shares of Itron in a research note on Saturday, November 19th. Needham & Company LLC raised their target price on Itron from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, November 14th. TheStreet downgraded Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Oppenheimer Holdings Inc. upgraded Itron from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $61.00 target price (up from $57.00) on shares of Itron in a research note on Monday, October 3rd.
Itron (NASDAQ:ITRI) last announced its earnings results on Wednesday, November 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.16. The company earned $506.86 million during the quarter, compared to the consensus estimate of $481.51 million. Itron had a return on equity of 12.89% and a net margin of 1.45%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share.
In other Itron news, Director Thomas S. Glanville sold 1,384 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $65.10, for a total value of $90,098.40. Following the transaction, the director now owns 14,611 shares of the company’s stock, valued at $951,176.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas S. Glanville sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $53.15, for a total transaction of $212,600.00. Following the completion of the transaction, the director now directly owns 20,783 shares in the company, valued at approximately $1,104,616.45. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. MSI Financial Services Inc boosted its position in shares of Itron by 21,622.2% in the third quarter. MSI Financial Services Inc now owns 1,955 shares of the company’s stock worth $109,000 after buying an additional 1,946 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Itron by 2,352.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,090 shares of the company’s stock worth $133,000 after buying an additional 2,964 shares during the period. Acrospire Investment Management LLC acquired a new stake in Itron during the third quarter worth $134,000. CWH Capital Management Inc. acquired a new stake in Itron during the second quarter worth $202,000. Finally, PineBridge Investments L.P. boosted its stake in Itron by 3.8% in the second quarter. PineBridge Investments L.P. now owns 4,806 shares of the company’s stock worth $207,000 after buying an additional 175 shares during the period. 94.52% of the stock is currently owned by hedge funds and other institutional investors.