Itron, Inc. (ITRI) Trading 5.1% Higher

Itron, Inc. (NASDAQ:ITRI) traded up 5.1% during trading on Monday . The stock traded as high as $77.40 and last traded at $76.50. 948,780 shares traded hands during trading, an increase of 464% from the average session volume of 168,097 shares. The stock had previously closed at $72.80.

Several brokerages have recently issued reports on ITRI. Canaccord Genuity downgraded shares of Itron from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a research note on Tuesday. Zacks Investment Research downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen and Company set a $60.00 target price on shares of Itron and gave the stock a “hold” rating in a research note on Friday, July 21st. Robert W. Baird downgraded shares of Itron from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $77.00 in a research note on Wednesday, July 26th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.22.

The stock has a market capitalization of $2.95 billion, a PE ratio of 94.18 and a beta of 1.08. The stock has a 50 day moving average price of $72.49 and a 200 day moving average price of $67.47.

Itron (NASDAQ:ITRI) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million during the quarter, compared to analyst estimates of $491.80 million. Itron had a net margin of 1.60% and a return on equity of 15.43%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Equities analysts anticipate that Itron, Inc. will post $3.07 EPS for the current year.

Several large investors have recently bought and sold shares of ITRI. Nationwide Fund Advisors increased its holdings in shares of Itron by 41.9% during the 1st quarter. Nationwide Fund Advisors now owns 43,596 shares of the scientific and technical instruments company’s stock valued at $2,646,000 after purchasing an additional 12,863 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Itron by 36.1% during the 1st quarter. Russell Investments Group Ltd. now owns 45,846 shares of the scientific and technical instruments company’s stock valued at $2,782,000 after purchasing an additional 12,157 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Itron by 30.0% during the 1st quarter. Wells Fargo & Company MN now owns 47,204 shares of the scientific and technical instruments company’s stock valued at $2,865,000 after purchasing an additional 10,888 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Itron by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 47,175 shares of the scientific and technical instruments company’s stock valued at $2,861,000 after purchasing an additional 2,881 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Itron by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,967 shares of the scientific and technical instruments company’s stock valued at $1,394,000 after purchasing an additional 541 shares in the last quarter. 93.66% of the stock is owned by hedge funds and other institutional investors.

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Itron Company Profile

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

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