Canaccord Genuity reissued their buy rating on shares of Itron Inc. (NASDAQ:ITRI) in a research report report published on Monday morning. The brokerage currently has a $61.00 target price on the stock, up from their prior target price of $57.00.
Several other research analysts have also commented on the company. Robert W. Baird reissued an outperform rating and issued a $47.00 price objective on shares of Itron in a research report on Saturday, August 13th. TheStreet raised Itron from a hold rating to a buy rating in a research report on Monday, August 29th. Zacks Investment Research raised Itron from a hold rating to a strong-buy rating and set a $62.00 price objective on the stock in a research report on Friday, September 9th. Cowen and Company reaffirmed a market perform rating and set a $50.00 target price (up from $45.00) on shares of Itron in a research report on Sunday, September 4th. Finally, Needham & Company LLC lifted their target price on Itron from $46.00 to $60.00 and gave the stock a buy rating in a research report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $52.75.
Shares of Itron (NASDAQ:ITRI) opened at 56.72 on Monday. The firm has a market capitalization of $2.17 billion, a PE ratio of 42.39 and a beta of 1.44. Itron has a 12 month low of $29.02 and a 12 month high of $57.25. The company has a 50 day moving average price of $52.75 and a 200-day moving average price of $45.20.
Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.43 by $0.22. Itron had a return on equity of 10.94% and a net margin of 2.62%. The company had revenue of $513.02 million for the quarter. During the same period last year, the business earned ($0.39) earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts expect that Itron will post $2.37 EPS for the current fiscal year.
In related news, major shareholder Scopia Capital Management Lp bought 83,303 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was bought at an average cost of $53.84 per share, for a total transaction of $4,485,033.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas S. Glanville sold 4,000 shares of Itron stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $53.15, for a total value of $212,600.00. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at $1,104,616.45. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Bogle Investment Management L P DE bought a new position in shares of Itron during the first quarter worth approximately $4,514,000. Goldman Sachs Group Inc. increased its position in shares of Itron by 23.1% in the first quarter. Goldman Sachs Group Inc. now owns 220,635 shares of the company’s stock worth $9,205,000 after buying an additional 41,457 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Itron by 164.6% in the first quarter. UBS Asset Management Americas Inc. now owns 742,060 shares of the company’s stock worth $30,959,000 after buying an additional 461,562 shares during the last quarter. UBS Group AG increased its position in shares of Itron by 3,973.8% in the first quarter. UBS Group AG now owns 55,322 shares of the company’s stock worth $2,308,000 after buying an additional 53,964 shares during the last quarter. Finally, State Street Corp increased its position in shares of Itron by 0.7% in the first quarter. State Street Corp now owns 732,924 shares of the company’s stock worth $30,573,000 after buying an additional 5,180 shares during the last quarter. Institutional investors own 96.92% of the company’s stock.
Itron Company Profile